EU pension fund on brink of collapse: Taxpayers will have to bail out hundreds of MEPs | WHAT REALLY HAPPENED


EU pension fund on brink of collapse: Taxpayers will have to bail out hundreds of MEPs

Germany's biggest newspaper Bild reported it has seen paperwork indicating a shortfall of millions of euros which means the pension fund will collapse by 2026 at the latest.

It cited an internal opinion of the Secretary-General of the European Parliament, Klaus Welle, for the Committee on Budgetary Regulation.

The endangered fund closed to new members in 2009 and, by the end of 2016, held assets worth €146.4 million.

But by then the fund's liabilities - the outstanding pension entitlements of the lawmakers - already stood at a staggering €472.6 million.

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