'A Huge Scandal': Will Taxpayers Have to Bail Out EU Parliament Pension Fund? - SPIEGEL... - 0 views
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Despite denials from Brussels, EU taxpayers are to foot the bill for hefty and legally controversial pension supplements for many members of the European parliament. Their pension fund has run up a loss of €120 million ($156 million) as a result of risky share investments, according to an internal memo of the secretary-general of the European Parliament.
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The memo adds that, beginning in 2010, the retirement fund "will no longer have enough liquidity to meet its payment obligations.
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This week, the parliament is scheduled to quietly agree upon a solution for how to safeguard the pension entitlements of around 1,000 active or retired parliamentarians.
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