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PostPosted: Sun Jul 02, 2017 8:43 am 
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EU pension plot EXPOSED: Bloc wants SINGLE pot where savings can be moved ACROSS STATES
THE retirement savings of millions of people across the European Union could be pooled into a single pension product that can be transferred across states, under plans revealed this week by the European Commission.
By Lana Clements
PUBLISHED: 10:39, Sat, Jul 1, 2017 | UPDATED: 14:04, Sat, Jul 1, 2017

EU introduces Pan-European Pension Product
The Pan-European Pension Product (PEPP) is one of the boldest steps yet towards the bloc having financial control over its members.

Brussels said a "patchwork" of pension rules across the EU is standing in the way of a competitive market.

The commission also hopes that the scheme will push more savings into long-term investments across the bloc that can help with growth and create new jobs across the EU.

Under the plans, savers would have more choice and pensions will be easier to compare, according to the commission.

We are already being screwed by our own 'Pension Services', what chance do you think you would you have with this disfunctional bunch?

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PostPosted: Sun Jul 02, 2017 9:43 am 
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As most of the northern EU countries pension pots are relatively solvent and can continue to pay their way provided each individual countries controls their own pension funds, whereas France and the southern EU countries are potless, so you don't need to be a financial wizard to work out where the pension pot flows will go and nothing the people affect can do about it.

Didn't hear of any consultation or Referendum with the citizens affect if they actually approve of this, or will the unelected EU just impose it.

Aren't you glad we're getting out!

Or can somebody convince me that I am wrong and this is a good idea!

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PostPosted: Sun Jul 02, 2017 11:03 am 
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Perhaps they will link it to the EU MEP pensions !

"The revelation follows a row last week over the second pensions to which many members of the European parliament are entitled, in addition to their statutory pension. The longest-serving MEPs accrue statutory pensions of up to £55,000 – 70% of their salary. They are entitled to draw this non-contributory pension, which is funded solely by the taxpayer, at age 63.

Many MEPs also have a second European parliament pension scheme, which is expected to pay out up to £41,000 a year. The fund, which closed to new applicants in 2009 and stopped accepting contributions, was criticised last week by Tory MP Philip Davies as "the perfect example of the grotesque self-serving extravagance of the EU".

Public anger escalated last week after it emerged that an "actuarial deficit" in the second pension scheme will require an extra £187m of taxpayer funding to plug the gap. UK taxpayers have already contributed more than £100m to the fund."

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PostPosted: Mon Jul 03, 2017 2:26 pm 
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Having worked previously in the pension industry for 7 years I do believe fundamental changes are necessary and this is a very interesting proposal however what Clive says with regard to Southern Europe is absolutely true.

As usual many of these things are introduced for the best of reasons however get hijacked along the way and we all end up paying.


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PostPosted: Wed Jul 05, 2017 10:28 am 
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The fundamental problem with Europe is the Euro- all this tinkering with pensions to create growth this only really necessary because the banks remain a complete mess (although anything that increases the level of integration is part of the EU Commission's master plan that no one can really democratically alter or affect ).

We recently had a bail out of a couple of small Italian banks. Not only is this not supposed to happen anymore (bail-ins are supposedly the requirement now) the actual financing is ludicrous and effectively nullifies the so called Bank Recover and Resolution Scheme that the EU put in place to tackle all the future banking crises.

Because the Italian banking system is in such a mess and the consequences for the Euro of bail-ins too grave to contemplate, the Commission was unable to implement it's own rules. Italy has been allowed to borrow another Euro 20 billion through the ECB bond buying scheme to bail out these two minnows of banks.

God only knows what the cost of bailing out the rest of them will be to prevent the whole system from collapse and God only knows here that money is going to come from- the Italian governmnet is already in hock the the tune of 132% of GDP (and doubtless Germany will use this disregard for Eurozone rules to allow a "bail out" of Deutsche Bank after the German election)

That's the Eurozone for you- those that are too big to fail can do what they like, those less significant have to do as the are told or have the money supply cut off- what a farce

A perfect summary of the EU was put on display yesterday for the world to see- the mighty Juncker deigned to turn up in the European Parliament and only 30 MEP's could be bothered to turn up to say hello :lol: He threw a diva type strop, the President of the Parliament tried to defend what was indeed indefensible, and the whole lot of them were exposed for the petty, snout in the trough incompetents they really are


Last edited by Ilex on Wed Jul 05, 2017 7:10 pm, edited 1 time in total.

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PostPosted: Wed Jul 05, 2017 10:45 am 
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The pension pots of the so called wealthy countries will be another pot to exploit to keep the system solvent and create an equal servitude of more citizens of the EU empire.

I feel a revolution coming on.............. the Rothschilds are sitting back and earning off the demise of each and then the rebuild of each. They control the game and the rest are all pawns. They will continue to fund every side in every way to make money on broken backs.

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PostPosted: Wed Jul 05, 2017 3:48 pm 
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My understanding is that it will also include private pension schemes which would have effected the UK more than any other EU countries which appear to rely on government scheme. It would also have had a negative effect on the FTSE were many private pension schemes invest their money.

If the "One Size Fits All" EU wide government pension scheme is introduced I can see millions of mainland Europeans opting for a UK style private pension scheme on the FTSE100 rather than see their hard earned money squandered away by unelected Commissioners held bent on supporting the unsupportable Euro zone.

Aren't you glad we voted to Leave.

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PostPosted: Wed Jul 05, 2017 4:33 pm 
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clive of payia wrote:
My understanding is that it will also include private pension schemes which would have effected the UK more than any other EU countries which appear to rely on government scheme. It would also have had a negative effect on the FTSE were many private pension schemes invest their money.

If the "One Size Fits All" EU wide government pension scheme is introduced I can see millions of mainland Europeans opting for a UK style private pension scheme on the FTSE100 rather than see their hard earned money squandered away by unelected Commissioners held bent on supporting the unsupportable Euro zone.

Aren't you glad we voted to Leave.

:agree :clap


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