European Nations Seizing Private Pensions

In the socialistic Nanny State, there is nothing that can be considered private. The more the government controls, the more it wants to control. This latest grab in Europe is frightening, especially considering the current trend of increased government control we are experiencing.

From The Christian Science Monitor (via Drudge)

People’s retirement savings are a convenient source of revenue for governments that don’t want to reduce spending or make privatizations. As most pension schemes in Europe are organised by the state, European ministers of finance have a facilitated access to the savings accumulated there…

The most striking example is Hungary, where last month the government made the citizens an offer they could not refuse. They could either remit their individual retirement savings to the state, or lose the right to the basic state pension…The Bulgarian government has come up with a similar idea. $300m of private early retirement savings was supposed to be transferred to the state pension scheme…in Poland, The government wants to transfer of 1/3 of future contributions from individual retirement accounts to the state-run social security system.

Read it here: Seizing Private Pensions



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2 Responses to “European Nations Seizing Private Pensions”

  1. thomasjeffersonclubblog Says:

    This is a sobering article. Thanks for finding it.


  2. thomasjeffersonclubblog Says:

    Note to posters: When Hitler is invoked, you’ve lost the argument. Please don’t refer to us, the president, or anyone else as a Nazi or Hitler.

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