EU PENSIONS RIP-OFF: BRUSSELS ‘OVERCHARGING BRITAIN ON LIABILITIES BY €7BN’

EU PENSIONS RIP-OFF: BRUSSELS ‘OVERCHARGING BRITAIN ON LIABILITIES BY €7BN’
This could leave the UK with a net Brexit bill of…£65.1bn

EU pensions rip-off: Brussels ‘overcharging Britain on liabilities by €7bn’

Brussels spat: a new row over Britain’s financial obligations has blown up as Theresa May prepares to meet EU counterparts CREDIT: GEERT VANDEN WIJNGAERT/ AP

The EU is trying to over-charge Britain for its share of Eurocrats’ pensions to the tune of €7bn (£6.2bn), it has been claimed, even as European capitals continue to squeeze the UK over the so-called Brexit bill.

British Brexit negotiators are questioning EU calculations over the size of pension liabilities – listed as some €67bn in the EU accounts – of which the UK share would be around €11bn on the point of exit.

However, figures published by The Times argue that the EU is unfairly using the current rock-bottom rate on investment returns of 0.3pc to calculate the total cost of servicing the ultra-generous 70pc final salary EU pension scheme.

Diplomats and pensions experts argue that the fairer rate – based on an average of investment returns over the last 21 years of 3.1pc – would reduce the UK’s liability from €11bn to €3.5bn.

 

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