Taxpayers Association of Europe Opposes „Rescue Package“ for the Private Pension Fund for MEPs

Taxpayers Association of Europe Opposes „Rescue Package“ for the Private Pension Fund for MEPs

According to its President, Rolf von Hohenhau, the Taxpayers Association of Europe opposes a “Rescue Package“ for the private pension fund for MEPs.

“High-risk private pension funds based on share certificates also have serious problems in the free economy at the moment but the taxpayers do not have to answer for this. Therefore I can hardly believe that the proposal to compensate the losses of the private pension funds caused by the financial crisis with taxpayers’ money will have a majority in the European Parliament“, said Rolf von Hohenhau.

Nevertheless, the scheme that MEPs take part in their own old-age provisions and coverage is appreciated by the Taxpayers Association of Europe.

President Rolf von Hohenhau’s view is that the private pension fund will not, contrary to what has partly been reported, lead to a multiple provision for German MEPs. Ever since 2004 the German MEPs have no more interest in the private pension fund. As they are subject to the legal regulations of the German Bundestag, they are only entitled to a single old-age pension.

According to the President of Taxpayers Association of Europe it is important to make sure that all old-age benefits will be reported.

Brussels/Munich, 21 April 2009
Michael Jäger
Secretary General