The German magazine Der Spiegel published recently an article about the upcoming collapse of the pensions Fund for the Members of the European Parliament. This Fund was created in 1990 in order to offer MEP’s pension rights and closed finally in 2009 when the regulation for MEP’s came into force which provided MEP’s for uniform pension rights and pensions without prior contributions payed by the budget of the European Parliament.
The Fund has a value of € 146,4m but it has payment obligations for MEP’s pensions of € 472,6m which makes a deficit of € 326,2m. The Funds shall go bankrupt 2024 or at the latest 2026. The deficit must be paid by the budget of the European Parliament, ergo by the European taxpayers. The estimations were slightly different from today’s reality….