| Series Title | European Voice |
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| Series Details | 14/03/96, Volume 2, Number 11 |
| Publication Date | 14/03/1996 |
| Content Type | News |
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Date: 14/03/1996 Last week's demographic report from the Commission predicting dramatic changes in the age profile of the European population was no remote piece of statistical number-crunching - the institutions are already bracing themselves for the financial consequences of the predicted huge rise in the number of pensioners in society. The impact will be felt on the EU's own pension bill over the next decade as more and more staff qualify for their handsome retirement deals. Ten years ago, the institutions were handling about 1,500 pension cases a year. By last year, the figure had risen to 3,624. By 2005, it will be 8,500. So how will the extra cost be met? Until 1980, staff contributions, which now stand at 8.25&percent; of an individual's salary, were sufficient to cover all expenditure. Now they account for just a third. The balance, the Commission confirms, will continue to be paid from the annual EU budget, placing further pressures on Union finances. |
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| Subject Categories | Economic and Financial Affairs, Employment and Social Affairs |
