Taxpayers risk paying for €300m black hole in luxury EU pension fund
www.investigate-europe.eu
A voluntary top-up pension fund used by hundreds of politicians is set to go bankrupt by 2025 at the latest. The European Parliament must decide what happens next.

Even though the intentions might have been good, the private pension fund, created in 1991 for a small number of politicians, was from the beginning financially unsustainable. “With almost criminal strength, a system was created that was doomed to fail,” says Daniel Freund, German Green MEP in the budget control committee.

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    4•1 year ago

    "There was no party-politics in this, we all believed that it was unacceptable and that ultimately taxpayers should not have to pay for it. We managed to get the plenary to see the problems. But we never managed to force the leadership of the parliament to listen,” says Bart Staes, a Belgian ex-MEP [who for 20 years was a member of the budget control committee, who says that the risks were known early on.]