The challenges of the sustainability of state pension systems

Abstract

Nowadays, financial knowledge and financial literacy are a fundamental issue in everyday speech, as the crises and their consequences have highlighted the shortcomings of financial knowledge. When we talk about the causes of crises, we always mention the responsibility of households, companies and banks, in addition to the responsibility of governments. One of the main reasons for this may be a lack of financial knowledge and financial awareness. Many articles and studies deal with the importance of financial culture today. All of these studies point to the importance of financial literacy. Financial literacy can only be developed through education. The reform of the state pension system is a cardinal and noteworthy topic in all countries of the European Union and is often discussed at various scientific meetings. The presentation and related study describe the current pillars of the international and Hungarian pension system, and using demographic and statistical data, address the problems of the mandatory social security system in detail, such as the sustainability issues of the current system. The main goal of the research is to present the possible scenario of changes in pension benefits in Hungary. Using a variety of statistics and research based on a questionnaire of economic attitudes.