Express uncovers EU plot against pensioners

Britain’s senior citizens will be shaking in their slippers with revelations in The Daily Express of “a devastating new round of meddling by Brussels.” One of the aims of Solvency II - a series of new EU proposals affecting pension funds – is that it will oblige companies to invest employee pension money in safer investment sectors like government bonds. For the eurosceptic Express, however, “EU bureaucrats” are actually “devastating the retirement plans of hundreds of thousands of people.” And this, as its headline indicates, by at least 20%. Adding insult to injury, millions of “state employees, including MPs and civil servants,” are immune from the effects of this dark piece of legislation from Brussels, “because they still have gold-plated final-salary pensions underwritten by the taxpayer.” Last night, pension campaigners “were outraged”, the Express warns.