http://www.csmonitor.com/Business/The-Adam-Smith-Institute-Blog/2011/0102/European-nations-begin-seizing-private-pensionshttp://www.newser.com/story/108835/hungary-bulgaria-poland-grab-private-pensions-to-fix-budgets.html(NEWSER) – As European governments seek new sources of revenue, private retirement plans are taking a hit. Since most are organized by the state, "European ministers of finance have a facilitated access to the savings accumulated there, and it is only logical that they try to get a hold of this money for their own ends," writes Jan Iwanik for the Christian Science Monitor. Iwanick highlights five such schemes:
Hungarians last month had to choose between handing the government their retirement savings or giving up their state pensions.
In Bulgaria, the government called for $300 million of private early retirement savings to be moved to state pensions; trade union protests weakened the plan.
The Polish government wants a third of future private retirement fund contributions to go to social security.
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