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Saving to Age: How Much Can We Do?

Saving to Age: How Much Can We Do?

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Perhaps not everyone is aware that children born after January 1, 2006 receive $ 42,500 in start-up support from the state, which is a deposit in the State Treasury.

With a start-up capital and monthly payments, you can start your child up to millions more forints. Let's count a bit.
The initial capital, the $ 42,500, and any forints paid on the Start Securities are invested in a Baby Bond. This is a special government paper that the state starts a series of each year that represents a particular year. The amount paid for the child's birth date is in the form of a serial number - the amount paid out of the capital each month, up to 100 or 1000 HUF - with the average monthly interest rate above the previous year's average. The interest, with automatic reinvestment, is returned to the same bond. This method simplifies cleaning for the money and less expensive parents.

When state support is higher

There are two cases where the state of the depositors is higher than the amount mentioned above. On the one hand, for children who are eligible for the Child Protection Benefit due to their lower income, when they pay back state contributions - after paying their own for Start Start - every year they pay up to $ 20 more each year. The other case is when a child who is eligible for Child Protection Benefit receives 12,000 support without any contribution, either in the form of a temporary or an upbringing, as he or she cannot count on the support of his or her parents.


Once upon a time there is a start-up capital that we can increase every month. This is accompanied by an annual State contribution - up to a maximum of 6,000 HUF. Importantly, as of October 1, 2012, members of the family are eligible for an unlimited amount of their own deposit, which is valid for Start accounts opened before October 1, 2012.
Let's look at a specific example. In the case of a family paying $ 5,000 a month, a child can add up to two and a half million forints after 18 years.
Even if your monthly payment is a thousand forints, your child will still get around 600 thousand forints after their 18th birthday. However, you do not have to leave your parent's home with an empty pocket if you have not been able to make monthly payments at all: the initial capital received from the state increases by itself to more than 100 thousand HUF. (The above amounts are calculated at a 7 percent annual rate plus -inflation + interest rate premium.) An additional benefit is that the Start-up Account includes a Bonus Save on your 18th anniversary.

Savings can be taken without charge

Due to its long term, the Baby Bubble is easy to handle, as it will certainly not expire until the child's 18th birthday. During the term, the parents and relatives who have been saved have no further business, and the Hungarian Treasury automatically invests the interest in the Baby Bill.
The amount of money you can earn on your Start Securities account can be raised by your child at the age of 18: no tax, no health contribution, no EHO. If you want to save money for an older child born before January 2006, you need to know that you can save up to three years as soon as you open your account, and it is important that you also save up to 25. However, in this case, the starting amount does not go well, but payments are still expected to be made by the state on a yearly basis.