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12th October, 2018

Most firms offer non-wage benefits

About 88% of employees at Hungarian companies receive some form of non-wage benefits, according to a survey by the Hungarian Chamber of Commerce and Industry’s Economy and Business Research Institute.

The rate at companies employing 20-49 people stands at 74%, while it is 95% at companies employing more than 250.

Some 400 executives took part in the survey, three-fourths of them from SMEs and the rest from companies employing more than 250 people.

About 41% of the survey respondents said they top up employees’ Széchenyi cards (SZÉP), which may be used for catering, accommodation and recreation, while 40% offer start-of-school support and 29% pay benefits in cash.

More than 10% pay into healthcare and voluntary pension funds or offer staff canteen and gift vouchers.

Less than 10% offer employees support in paying off student loans, or for accommodation, kindergarten, crèches or life or health insurance.

Parliament recently approved legislation to phase out all tax breaks on fringe benefits except for the SZÉP cards.

Sources regularly consulted, with abbreviations used in text: Népszabadság (N); Magyar Hírlap (MH); Világgazdaság (VG); Napi Gazdaság (NG); Magyar Nemzet (MN); Népszava (Nsz); Kossuth Rádió news (KR); nightly TV news (TV).

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