The controversial extra payments for MEPs on top of the normal pension will be reduced. Members of the European Parliament and the European Parliament contributed to the so-called voluntary pension fund until 2009 in order to receive a supplementary pension later. The fund has been repeatedly criticized in recent years. The background includes the risk that the fund could go bankrupt and that it would need to be replenished with taxpayer money.
Payments from the fund will now be halved, the presidency of the EU parliament announced late Monday evening. In addition, the age at which benefits can be received from the fund will be raised from 65 to 67 years.
At the end of 2024, it must be assessed whether further measures are necessary. Alternatively, beneficiaries of the pension fund can opt out of the system and receive a one-off payment.
the fund is running out
In fact, the fund is almost out of money. At the end of last year, according to the secretary-general of parliament, Alessandro Chiocchetti, he still had investments worth 50 to 55 million euros. In the long term, however, 363 million euros would be needed to cover the claims of the MPs.
According to the EU Parliament, MEPs from the age of 63 are entitled to an old-age pension. According to this, the pension corresponds to 3.5 percent of salary for each full year of office, but the maximum is 70 percent in total.
Source: Krone
I am Wallace Jones, an experienced journalist. I specialize in writing for the world section of Today Times Live. With over a decade of experience, I have developed an eye for detail when it comes to reporting on local and global stories. My passion lies in uncovering the truth through my investigative skills and creating thought-provoking content that resonates with readers worldwide.
