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You should be preparing for retirement! Why? Because that’s how it works!

You should be preparing for retirement!  Why?  Because that’s how it works!

02/16/2023 02:00

It is not uncommon for a person who is still years away from reaching retirement age to begin preparing for retirement. Of course, here we are thinking about preparations related to official duties, when the person concerned is, as they say: counting his years.

The administrative body that carries out the task of securing pensions, ex officio, proceeds to adjust the length of service three years before reaching the retirement age. In response to a series of statements sent by the pension insurance company, comments may be made, which may be followed by an investigation.

It is not uncommon for a person who is still years away from reaching retirement age to begin preparing for retirement. Of course, here we are thinking about preparations related to official duties, when the person concerned is, as they say: counting his years.

This “calculation” is done even without a request, during the data reconciliation procedure initiated by the office.

To date, the purpose and process of conducting the data reconciliation procedure carried out by the administrative bodies that perform the task of pension insurance have become known, that is, the reconciliation of the data on the time of service of the insured and former insured persons in the records of the social security body.

This procedure begins three years before reaching the retirement age.

During the consultation procedure, the Pensions Insurance Administrative Authority sends a detailed statement with the following data recorded by it:

– Periods spent in insurance, and other periods of service, for women, periods of entitlement to pension that can be applied for with a period of entitlement of forty years for women,

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– data of employers (jobs),

– earnings and income subject to pension contributions for the period after December 31, 1987,

Contribution to the pension deducted and paid by the employer for the period after December 31, 1987, and

– The periods that are considered a period of service, after which no pension contributions or subscriptions are paid.

During the consultation, the concerned person can comment on any missing data.

The administrative body responsible for securing pensions will examine the reasons for the deviation, and may invite the person concerned to make a statement as part of the investigation.

You may request data from your employer or other person obligated to provide data, or from another person or organization that holds documents of similar age, conducts an on-site inspection, and performs other evidentiary actions, and for the period after December 31, 2009, you can initiate a settlement Data or IRS procedure with the state tax authority.

In this way, it can be ensured that the statement and verification of the periods verified from the Social Security record contain all the agreed data.

Data settlement procedures end with the issuance of a decision.

However, it often happens that those who, for any reason, need to know their data before the above date, ask for information about their options in this regard. There are two options available.

Such persons may apply for data reconciliation or for the issuance of an official certificate.

Act No. LXXXI of 1997 Concerning Social Security Retirement Benefits. Law 96 / E. In accordance with §, the insured or former insured may request the issuance of an official certificate of time of service earned, time of service gained for preferential retirement benefits for women with a maturity period of forty years, and other information disclosed during the settlement procedure data.

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If the formal certification request satisfies the formal data reconciliation procedure, it is submitted by the person also requesting recognition of time of service and period of eligibility not included in the register, or belonging, given their age (born after 1955). To the formal procedure for data settlement, but the settlement has not yet been completed, the two procedures are combined.

The procedure for issuing the official certificate will then be suspended, and the data reconciliation will be carried out entirely.

Another way to find out the length of service is to look at the record kept by the governing bodies of pension insurance, which the person concerned or his representative can use.

If we want to view the data in the form described, the Pension Insurance Department will issue an extract from the registered data at the request of the person concerned or his representative. These options are set forth in Law No. LXXXI of 1997 on Social Security Retirement Benefits. Listed in Article 96 (8) of the Law.

Issuance of the extract is free and costs.

source: adó.hu professional blog portal

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