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Fairyland

Eu Demands Britain Pays Pensions Of 1,730 Eurocrats In Wake Of Brexit Vote

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A bitter clash is looming over who will foot the bill for paying pensions owed to thousands of British Eurocrats when the UK leaves the EU.

Brussels has estimated its pensions liability at 60 billion (£50.7 billion) for all retired and current officials, with annual payments currently at about 1.4 billion (£1.2 billion).

Some 1,730 Britons currently make up almost 8 per cent of the 22,000 retired EU officials.

The UK insists it cannot be held responsible for Eurocrat pensions which, it says, are the responsibility of EU institutions.

But EU officials say Britain would be expected to pay its part of the EU's pension promises when it finally quits the EU.

It potentially sets Theresa May's new government on a collision course with EU leaders as Brexit is negotiated.

Félix Geradon, deputy head of Union Syndicale-Bruxelles, the biggest EU trade union, said, The UK is correct in its point that paying the pensions is the responsibility of the European budget. But the budget is a common responsibility of the member states.

According to some senior EU officials one compromise could involve the UK paying a lump sum to close its exposure and create a standalone pension fund.

This could be horrible, ugly. I hope it wont be, one official told the Financial Times.

Britain has long argued that the EU's pensions are too generous and the area is one of many where complex joint liabilities will need to be unravelled.

Are Eurocrats not eligible for usual state pension?

Edited by Fairyland

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Surely the money to pay these pensions is already in the great big EU pension pot.

Could it possibly be there isn't one!

Quite - we must have been paying billions into it for decades. Or have we...

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Funnily enough that gravy train was very high up the list of concerns which led to me voting Brexit. If anything, this argument being played out in public might do some good, highlighting exactly why we want out!

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We're not out yet - 2 my knowledge May hasn't signed article 50 thingy? eh?

Hey at least we can print, raise inflation and give them worthless paper since we've got the Pound not the Euro

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It's pretty much the very first item they've raised for negotiation. It's so typical of the greed and corruption of the self serving eu.

Get Sir Philip Green of BHS on the job - he knows everything about pension deficits. Give them £1.

Edited by billybong

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Quite - we must have been paying billions into it for decades. Or have we...

No, like the uk, it's a pay as you go pension system, you pay the liability as it is due - not sensible at all!

The good news is the Eurocrats from Cornwall are safe http://www.independent.co.uk/news/uk/home-news/cornwall-eu-referendum-leave-brussels-brexit-funding-uk-government-a7166951.html

Edited by Royw6

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No, like the uk, it's a pay as you go pension system, you pay the liability as it is due - not sensible at all!

The good news is the Eurocrats from Cornwall are safe http://www.independent.co.uk/news/uk/home-news/cornwall-eu-referendum-leave-brussels-brexit-funding-uk-government-a7166951.html

Pay as you go ? Excellent - we've gone - so let's not pay :)

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Pay as you go ? Excellent - we've gone - so let's not pay :)

Yes! The legal responsibility would likely remain with the eu as the employer of the civil servants, the ones not seconded. I think sadly we are responsible for employing our MEPs.

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That's don't pay as you've gone then. :D

Yes well that has a ring to it.

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This is just a little taste of the coming rows over how we divide up responsibility for future costs incurred prior to the UK leaving the EU.

Article 50, which remember we insisted upon being written into the treaty, requires that such costs are born by the leaving member in proportion to their share of total EU GDP. Even an article by the Leave org (posted on the Brexit thread a couple of days ago) thought that this could amount to £30 billion; other people think more like £60.

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Once our MEPs move out of all those EU skyscrapers in Brussels and Strasbourg (which we have paid for) I'm sure that the office space will be needed by other new MEPs from Turkey or Morocco so they can just start paying us rent.

This rental income should cover the pensions.

If they don't like that plan, how about they sell the buildings, give us our share back in cash and build another smaller one.

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This is just a little taste of the coming rows over how we divide up responsibility for future costs incurred prior to the UK leaving the EU.

Article 50, which remember we insisted upon being written into the treaty, requires that such costs are born by the leaving member in proportion to their share of total EU GDP. Even an article by the Leave org (posted on the Brexit thread a couple of days ago) thought that this could amount to £30 billion; other people think more like £60.

was article 50 really our idea?

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was article 50 really our idea?

Yes, we insisted upon it being included in the treaty of Lisbon agreement, and agreed its provisions (where are deliberately designed to put the leaving party in an extremely weak position).

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Yes, we insisted upon it being included in the treaty of Lisbon agreement, and agreed its provisions (where are deliberately designed to put the leaving party in an extremely weak position).

You couldn't make it up! "Carry on Brexit", the great British comedy that will run and run.

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The fact it was us that insisted on Article 50 being included -hmmm....maybe it was all planned to turn out this way ?

Personally I don't think its unreasonable that we pay our share of the pensions accrued up to the time we leave.

However it would be advisable to keep this back and include it as part of the Leave negotiations. The fact that their pensions might be at risk if they become unreasonable could help to concentrate their minds.

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landlord making £80k from a four-bed house?

Hmmm. Comparing the three-bed house I live in now (£700/month). London landlord would use the dining room as a bedroom, making 4 bedrooms (7 inmates). At 1983 rates they each pay sixtysomething percent of a good graduate salary, so maybe £20k at today's rates. £140k/year for the house.

Seems the London rent per property has halved in a generation in the HMO sector. London/HMO is truly a 'special' market.

There are details of the pensions in today's Times. I nearly choked on my egg on toast.

No wonder the gravy-trainers are so desperate to keep it all going.

Just one little snippet - the average pension paid to retired European officials is more than 4,300 a month, and the average age at retirement is 61.9 years. EU civil servants pay only 10.1% of their basic salaries towards a max of 70% of their final salaries.

Edited by Mrs Bear

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