Pensions will be safer…

When our rulers took money directly from people’s bank accounts in Cyprus earlier this year, accounts they had promised to protect, I posted the following comment:

“And why do they stop at the bank accounts, why not the pension accounts as well? Well, I will let you in on a secret; it is on their to-do-list.”

Here is the link, http://www.expat-investor.com/the-bank-account-levy-coming-to-a-bank-close-to-you-soon/.

Now it has happened in a EU country, Poland, and quite openly. Polish Prime Minister Donald Tusk explains it all very well:

“We believe that, apart from the positive consequence of this decision for public debt, pensions will also be safer.”

Here is a link to Reuters news item, http://www.reuters.com/article/2013/09/04/poland-pensions-idUSL6N0H02UV20130904.

There are many other measures in place in most other countries as well, but this is the most bold move so far.

One reason for targeting pensions is that they cannot easily leave the country. There are countries like the UK and Ireland that allows people to expatriate their pensions. I help people doing it all the time. But you better do it soon before it is too late, before the government makes it safer…