European Union pension rules could spell the end of final salary schemes in Britain, experts warned last night.
Hundreds of employers may be forced to abandon their schemes under planned Brussels regulations that critics say will push up the cost of administering funds by up to 90 per cent.
The National Association of Pension Funds warned the plans would be the ‘final nail in the coffin’ of final salary pensions.
Slowly but steadily the creep of EU socialism and totalitarianism, is creeping over the land. They now want to hand your final salary scheme to the multi-national insurance companies who administer them, so that your pension is a lottery. The lottery being the state of the stock market when you retire and are forced to buy an annuity. This will have a direct effect on the income you can depend to get in your retirement and how much your wife or in these PC days, your partner, can expect to get when you pop your clogs.
I could never understand when I was in the industry, why they couldn't just give you the money that was in your retirement pot to do with what you wanted. Now, of course, I realise the relationship between politicians and large companies, with the palms of them all and in particular the EU, getting greased on a regular basis. I wish to fuck, I knew what I know now, forty years ago. My career path would have been different, believe me. I'd have married a Jewess, gone into politics and lived life high on the hog.
Too fucking late now. All I can do now, is to moan like fuck and hope some young person chances by and reads my musings. Not that there's anything wrong with you old twats, that normally pass by!