21 May 2009

Cushioning the blow

Did you wonder why so many of these Tories seem (relatively) content to stand down at the next election? Well this (from The Independent) may have something to do with it:
All MPs who step down, or are defeated, at an election are paid a "resettlement grant" designed to compensate for loss of salary. It ranges between six months' and one year's pay depending on age and length of service in the Commons.
An MP aged between 55 and 64 who has been in Parliament for 15 years will be paid a year's salary – £64,766 at current rates. The first £30,000 is tax-free. In addition, all MPs can claim a maximum of £40,799 for "winding-up costs" to pay off staff and end office leases. Politicians also benefit from a generous final salary pension scheme heavily subsidised by the taxpayer.

But perhaps I am excessively cynical.

No comments: