What are the pension arrangements for MP's and Ministers?

[barney15c]

Does anyone know what their arrangements are.. what the contribution rates are for their pensions. Are they going to have a pension review on the same terms as that proposed for public sector workers?

[jno]

http://www.guardian.c...-pensions?INTCMP=SRCH

[samak]

I'm sure the answer will only make you depressed; better not to ask :-)

[Kathyan]

I wouldn't think so. There are two rules, one for us and one for them. They will retire on gold plated index linked pensions and we have to get by on what we can scrape together!

[modeller]

Of course they wont they will make rules in the same way as they did before but with a little more finesse.

[Buenchico]

MPs can choose whether to pay pension contributions at 11.9%, 7.9% or 5.9% of their salary (which is £65,738 p.a. except where the MP is also a Minister or the Chair of a Select Committee).

Chris

[barney15c]

MPs can choose whether to pay pension contributions at 11.9%, 7.9% or 5.9% of their salary (which is £65,738 p.a. except where the MP is also a Minister or the Chair of a Select Committee).

Chris

Thanks Chris, sorry to seem a bit dumb here, are the percentages you stated additional contributions made by MP's or are they contributions made by the tax payer. also is there an official site that gives these figures you mentioned. thanks again!

[welshlibranr]

I'd rather not know!.......will only confirm my expectations!..........

[Buenchico]

The contributions aren't 'additional' because they're the ones which are taken anyway. MPs simply give up that percentage of their income as their pension contribution. (It's like a 'company scheme', which is totally separate to the state pension).

I normally quote my sources, so I apologise for failing to do so above. My figures were taken from Parliament's official website:
http://www.parliament...ords/members/pay-mps/

Chris

[welshlibranr]

still don't want to know Chris!.............ignorance is bliss!.........or so they say!.......

[barney15c]

much obliged for your rapid response! :)

[welshlibranr]

Ok Chris, thanks for the link, seems like even if they take the lowest figure, based on what 'we' pay them, they are going to be quids in on retirement!...........great!..............not
!......they
need to come live in the real world!......will never happen!.................

[youngmafbog]

Welsh, how do you work that one out ?

Pension contributions build up a fund which will depend on the length of service. At the lowest rate only £3 878.54 per year will be in the scheme. Dont think that will buy much pension.