Jump to content
House Price Crash Forum
laurejon

Gordon Brown Agrees That Uk Taxpayers Will Bail Out Eu Mp's Pension Funds

Recommended Posts

Under EU law signed by Gordon Brown and the extremist Government in the UK known as the Labour Party, Britains hard stretched taxpayers will have to bail out the huge pension fund shortfalls in employees working for the EU.

The EU which is facing insolvency and bankruptcy looks to the UK to provide funds as many other nations are recepients of EU Funds, unlike the UK which is a major contributor.

Gordon Brown having devastated the pension funds of the UK's working classes in order that they have more disposable income to pay for Public Service and Government Pensions funds, is reported to be pleased with the progress made in the EU on pensions.

The news could not come at a worse time for the EU as millions of UK Citizens go to the polls to vote in the European Elections. With the vast majority of the UK opposed to the EU, and the prospect of a General Election in the UK could well remove the dictatorship party Labour in favour of a democratic party that would represent the people, particularly on the future of the UK's membership to the failed and corrupt, and fraudulant EU.

It is widely reported that the expenses scandal currently embracing The Labour party, is a drop in the Ocean in comparison to the fraud and corruption being perpetrated in the EU, so much so the auditors have not signed of a single year of accounts presented by the EU for auditing.

Taxpayers must bail out MEPs' pension fund to the tune of £105mDavid Charter in Brussels

A generous second pension scheme enjoyed by Members of the European Parliament is likely to be bailed out by the taxpayer after falling stock markets left it with a deficit of €120 million (£105 million).

Proving that the gravy train does not stop for MEPs when they leave Brussels, the European Parliament has guaranteed their full entitlements under the scheme — which for someone with ten years’ service pays out nearly £30,000 a year on top of their first pension of £15,000.

Critics are furious at a decision to underwrite the controversial second pension, for which the taxpayer already contributes €2 for every €1 paid by an MEP.

The scheme was already in disrepute because MEPs’ contributions are taken automatically from their office expense allowance of €4,202 (£3,700) a month rather than their salary. MEPs are supposed to reimburse this account but there are no checks and it is accepted widely that many do not repay the money, potentially making the pension an entirely taxpayer-funded perk.

The row has revived memories of the huge expenses and allowances taken by MEPs, which claimed the jobs of the Conservative leader and chief whip last year.

It comes less than two months before European Parliament elections that are already forecast to have a record-low turnout as a result of widespread apathy towards the Parliament across Europe.

Chris Davies, a Liberal Democrat MEP campaigning for pension reform, said: “While our constituents are feeling the pain, in Brussels we are getting a large dose of painkillers. It would simply be shameful to allow the use of taxpayers’ money to fill a hole caused by the recession.”

British MEPs already receive a main pension, which is the same as that for MPs at Westminster. This is worth up to two thirds of their £63,291 salary, depending on length of service.

Under the voluntary second pension, introduced in 1989, MEPs can put in €1,194 a month, which is supplemented by €2,388 from the European Parliament budget, giving them €1,393 a month for life for every five-year term they have served, up to a maximum of four terms (€5,572 a month).

Not all MEPs have signed up to the scheme — Nick Clegg, the former MEP who became Liberal Democrat leader, refused to do so on moral grounds — but 480 of the 785 MEPs have taken out the pension. The European Parliament has consistently refused to name them, citing the privacy of the individuals, despite criticism from the European Ombudsman.

A leaked note from the bureau of senior MEPs, which runs the Parliament’s administration, dated April 3, has made it clear that “Parliament will assume its legal responsibility to guarantee the right of members of the voluntary pension scheme to the additional pension”, after disclosure of the €120 million deficit, which was up from €30 million the previous year.

The fund is managed independently of the European Parliament by the non-profit Pension Scheme for MEPs based in Luxembourg, which is the administrative centre for all the financial operations of the EU. The board, chaired by Mr Balfe, meets four times a year in Brussels to sign off investment decisions which place the money in stock markets, bonds and property across Europe.

Mr Balfe has written to the European Parliament, warning that it should not impose any changes on MEPs’ rights under the scheme to try to plug the funding gap. “These changes go against the ‘vested rights’ and the ‘general principles of proportionality and the protection of legitimate expectations’ of the members of the scheme,” he wrote.

MEPs will debate their pension scheme at their sitting in Strasbourg next week but are desperate to avoid bad publicity as campaigning is about the start for the European elections.

http://www.timesonline.co.uk/tol/news/poli...icle6108810.ece

Edited by laurejon

Share this post


Link to post
Share on other sites

So laurejon, are you UKIP or BNP?

'Cos they're the only ones who will stop it. And given that Nigel Farage has claimed £2 million in expenses during his tenure as an MEP I'm not confident UKIP can be trusted to turn off the tap completely.

Share this post


Link to post
Share on other sites
Under EU law signed by Gordon Brown and the extremist Government in the UK known as the Labour Party, Britains hard stretched taxpayers will have to bail out the huge pension fund shortfalls in employees working for the EU.

Gordon Brown having devastated the pension funds of the UK's working classes in order that they have more disposable income to pay for Public Service and Government Pensions funds, is reported to be pleased with the progress made in the EU on pensions.

The news could not come at a worse time for the EU as millions of UK Citizens go to the polls to vote in the European Elections. With the vast majority of the UK opposed to the EU, and the prospect of a General Election in the UK could well remove the dictatorship party Labour in favour of a democratic party that would represent the people, particularly on the future of the UK's membership to the failed and corrupt, and fraudulant EU.

http://www.timesonline.co.uk/tol/news/poli...icle6108810.ece

The Times have really gone downhill in reporting, do they even use journalists anymore ?.

Share this post


Link to post
Share on other sites
So laurejon, are you UKIP or BNP?

'Cos they're the only ones who will stop it. And given that Nigel Farage has claimed £2 million in expenses during his tenure as an MEP I'm not confident UKIP can be trusted to turn off the tap completely.

Nor would the BNP if they get in power, I think we have more chance seeing Tony Blair becoming the Prime Minister again that that party getting in power.

What makes me really raise my eyebrow at the BNP is there are a lot of hard-line South Africans part of the BNP now. I remember the KP(conservative party of South Africa) and Auther Kemp. According to the KP, we were too leanient on the Africans that Apartheid was supressing already. Go figure, what else can you do they enforce "seperate development". Is this the big plan for Blighty? If so... You're in for one hell of a ride if you vote the BNP in.

Share this post


Link to post
Share on other sites
The BNP would be bigger thieves than the thieving scum we've already got in power.

What we need are real independents to stand.

Comme ca? I shit you not.

katie.jpg

Share this post


Link to post
Share on other sites

It seems that it was once about voting for the best people to do the job, now it seems to be 'pick the least corrupt' :(

Share this post


Link to post
Share on other sites

funny, but in the Uk government spending comes from somewhere, but its not a bail out, whereas, the exact SAME spending by another branch of government IS a bailout.

TBH, niehter "government" has any money of its own, its ALL bailed out by the taxpayer.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   296 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.