always_rebel
25-06-2009, 11:20 PM
EU will cut your pensions by 20%
Millions of British workers could see their pensions slashed by up to 20 per cent in a devastating new round of meddling by Brussels. THIS WILL UPSET DEWI
http://www.dailyexpress.co.uk/posts/view/109335
EU bureaucrats want tighter restrictions on the private retirement funds that most employees will rely on in their old age.
But industry experts last night warned the new rules will shave up to a fifth off the income many will receive in retirement.
The move could also widen the growing pensions gap between public and private sectors.
Millions of state employees, including MPs and civil servants, will be insulated from the effects of the EU measures because they still have gold-plated final-salary pensions underwritten by the taxpayer.
The new EU rules are due to come into force in 2012, devastating the retirement plans of hundreds of thousands of people nearing the end of their working lives.
Pension campaigners and senior MPs were outraged by the latest punishing threat to pensions already decimated by the recession and Gordon Brown’s annual tax raids.
The move comes as private-sector workers face working longer for less because ministers want to raise the retirement age from 65 to 68 by the year 2046.
Private-sector pension funds have taken a battering over the last decade.
Falling investment returns have meant many firms have closed final-salary schemes because they were becoming too costly to run.
Experts have also attacked the annual £5billion stealth tax on pension funds introduced by Gordon Brown when Chancellor.
Pensions expert Dr Ros Altmann, a former adviser to the Government, said: “The value of pensions will be further reduced by this initiative.
http://www.fuckfrance.com/topic/3454915/1/UK/EU-will-cut-your-pensions-by-20.html&replies=2
Millions of British workers could see their pensions slashed by up to 20 per cent in a devastating new round of meddling by Brussels. THIS WILL UPSET DEWI
http://www.dailyexpress.co.uk/posts/view/109335
EU bureaucrats want tighter restrictions on the private retirement funds that most employees will rely on in their old age.
But industry experts last night warned the new rules will shave up to a fifth off the income many will receive in retirement.
The move could also widen the growing pensions gap between public and private sectors.
Millions of state employees, including MPs and civil servants, will be insulated from the effects of the EU measures because they still have gold-plated final-salary pensions underwritten by the taxpayer.
The new EU rules are due to come into force in 2012, devastating the retirement plans of hundreds of thousands of people nearing the end of their working lives.
Pension campaigners and senior MPs were outraged by the latest punishing threat to pensions already decimated by the recession and Gordon Brown’s annual tax raids.
The move comes as private-sector workers face working longer for less because ministers want to raise the retirement age from 65 to 68 by the year 2046.
Private-sector pension funds have taken a battering over the last decade.
Falling investment returns have meant many firms have closed final-salary schemes because they were becoming too costly to run.
Experts have also attacked the annual £5billion stealth tax on pension funds introduced by Gordon Brown when Chancellor.
Pensions expert Dr Ros Altmann, a former adviser to the Government, said: “The value of pensions will be further reduced by this initiative.
http://www.fuckfrance.com/topic/3454915/1/UK/EU-will-cut-your-pensions-by-20.html&replies=2