'A pension fund for Euro MPs is almost bankrupt and will have to be bailed out by taxpayers, it has been revealed.
Germany's biggest newspaper Bild reported it has seen paperwork indicating a shortfall of millions of euros which means the pension fund will collapse by 2026 at the latest.
It cited an internal opinion of the Secretary-General of the European Parliament, Klaus Welle, for the Committee on Budgetary Regulation.
The endangered fund closed to new members in 2009 and, by the end of 2016, held assets worth €146.4 million.
But by then the fund's liabilities - the outstanding pension entitlements of the lawmakers - already stood at a staggering €472.6 million.
Even back in early 2009 the lavish and controversial supplementary pensions of MEPs were in deficit to the tune of €120 million. Now it is nearly three times that amount.
"The estimated date of insolvency of the voluntary pension fund is roughly estimated between 2024 and 2026", according to the documents seen by Bild.
If the fund's assets only generate a 2 per cent return per year it will not be solvent beyond 2024.'
Read more: EU pension fund on brink of collapse: Taxpayers will have to bail out hundreds of MEPs
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