EU Requests The United Kingdom Pay For The Pension of 1,730 Eurocrats
The common folk are troubled by their retirements. Meanwhile, the European Union and the United Kingdom are arguing who would handle inter-country pensioners in the future.
According to Brussels, its pensions liability is only at €60bn (£50.7bn) for all its retired and current officials. Annual payments are currently around €1.4bn (£.12bn) for these officials.
Brussels requests that the United Kingdom answer for the 1,730 Britons that are part of the 22,000 retired EU officials.
The United Kingdom argues it has no responsibility for the Eurocrat pensions as it is the responsibility of EU institutions. However, the European Union counters with the fact that Britain is expected to pay its part of the EU’s pension promises as it finally exits the Union.
Félix Geradon, deputy head of Union Syndicale-Bruxelles, the biggest EU trade union, said, “The UK is correct in its point that paying the pensions is the responsibility of the European budget. But the budget is a common responsibility of the member states.”
According to some senior EU officials one compromise could involve the UK paying a lump sum to close its exposure and create a standalone pension fund.
“This could be horrible, ugly. I hope it won’t be,” one official told the Financial Times.