MP pensions..!

BISHI

Well-known Member
Found this post on another forum - if this is indeed true I think it should be changed immediately-

'If you are an MP, you pay 10% of your salary to get a pension calculated in 40ths. The proposal being made is that teachers pay at least 10% for a pension measured in 80ths.

If they lose their job, however long they have had it, they get a resettlement grant of between £32000 and £64000. What do teachers get?

This, ladies and gentlemen, is called "sharing the pain". '
 

sidicks

Banned
Found this post on another forum - if this is indeed true I think it should be changed immediately-

'If you are an MP, you pay 10% of your salary to get a pension calculated in 40ths. The proposal being made is that teachers pay at least 10% for a pension measured in 80ths.

If they lose their job, however long they have had it, they get a resettlement grant of between £32000 and £64000. What do teachers get?

This, ladies and gentlemen, is called "sharing the pain". '

I don't think you will find many people on here supporting the MP pension scheme.

Certainly if the public sector schemes are unaffordable then the MP scheme is doubly so (I believe the terms were improved by Gordon Brown shortly before he left office).

Either way, MPs should be showing the way and either drastically increasing contributions ior more likely significantly reducing the accrual rate.
:smashin:
Sidicks
 

GasDad

Remembered (1964-2012)
Found this post on another forum - if this is indeed true I think it should be changed immediately-

'If you are an MP, you pay 10% of your salary to get a pension calculated in 40ths. The proposal being made is that teachers pay at least 10% for a pension measured in 80ths.

If they lose their job, however long they have had it, they get a resettlement grant of between £32000 and £64000. What do teachers get?

This, ladies and gentlemen, is called "sharing the pain". '

However - unless you want just the rich to occupy parliament such a scheme is pretty necessary - especially the resetlement grant.

Afterall we (the public) would really like capable people to step forward to become MP's - it's hard to quanitify the hardness of the decision, to say leave a job as say a head teacher, to stand for parliament. Great if you get elected, but 5 years later you can be unemployed, and find it very hard to go back to your previous proffesion.
 

BISHI

Well-known Member
I don't think you will find many people on here supporting the MP pension scheme.

Certainly if the public sector schemes are unaffordable then the MP scheme is doubly so (I believe the terms were improved by Gordon Brown shortly before he left office).

Either way, MPs should be showing the way and either drastically increasing contributions ior more likely significantly reducing the accrual rate.
:smashin:
Sidicks

Agreed - all in this together means everyone..!!
 

BISHI

Well-known Member
However - unless you want just the rich to occupy parliament such a scheme is pretty necessary - especially the resetlement grant.

Afterall we (the public) would really like capable people to step forward to become MP's - it's hard to quanitify the hardness of the decision, to say leave a job as say a head teacher, to stand for parliament. Great if you get elected, but 5 years later you can be unemployed, and find it very hard to go back to your previous proffesion.

I would suggest means testing then. As many in the cabinet are ex Eton millionaires with business interests and contracts outside their MP role it could be reasonably expected that these MPs give up these exceptionally 'gold plated' benefits. If my pension is getting fliched from every angle I don't see why MPs shouldn't. Are they not in the public sector also..?
 

icstm

Active Member
Basic MP pay around £70k is ok, but then £150k for PM is low thus the range 70-150 does not really pay appropriately for roles such as miniters and ministers of State and for those who chair select committees.

They should get a resettlement allowance, but their pension does seem generous given that they can get another job when they leave / before they join.
 

gibbsy

Moderator
I don't think you will find many people on here supporting the MP pension scheme.

Certainly if the public sector schemes are unaffordable then the MP scheme is doubly so (I believe the terms were improved by Gordon Brown shortly before he left office).

Either way, MPs should be showing the way and either drastically increasing contributions ior more likely significantly reducing the accrual rate.
:smashin:
Sidicks

Bloody hell. I find myself agreeing with Sidicks. I'm off to lie down in a darkened room.:hiya:

Won't last, promise.
 

Fr Spodo Kimodo

Standard Member
I have read that the change from RPI to CPI isn't going to happen in their case. If this is true , they have now reached the point where they think they are totally fire proof. They must have calculated that the public have forgotten MPs greed in the great expenses scandal and now they are burying their head in the trough again.
All in it together my arse!
( If it isn't true then please feel free to ignore this rant.)
 

sidicks

Banned
I have read that the change from RPI to CPI isn't going to happen in their case. If this is true , they have now reached the point where they think they are totally fire proof. They must have calculated that the public have forgotten MPs greed in the great expenses scandal and now they are burying their head in the trough again.
All in it together my arse!
( If it isn't true then please feel free to ignore this rant.)

Well, the only reason for not changing this straight away would be because much bigger changes are being proposed for the scheme to be revealed shortly.

Otherwise it is simply outrageous.
:mad:
Sidicks
 

Pecker

Distinguished Member
Basic MP pay around £70k is ok, but then £150k for PM is low thus the range 70-150 does not really pay appropriately for roles such as miniters and ministers of State and for those who chair select committees.

I agree. £150k for running UK plc is hardly the market rate.

And I'm a teacher!

Steve W
 

Wild Weasel

Well-known Member
It's 150K plus the 70K for being an MP. And you live rent free in central London. ;)

Some can make their fortune afterwards on the rubber chicken circuit or tarting for American casino banks like Goldman Sachs, both of which Tony Blair has done. No one would want the likes of Gordon Brown of course.
 

sidicks

Banned
It's 150K plus the 70K for being an MP. And you live rent free in central London. ;)

Some can make their fortune afterwards on the rubber chicken circuit or tarting for American casino banks like Goldman Sachs, both of which Tony Blair has done. No one would want the likes of Gordon Brown of course.

Blair was at JP Morgan rather than GS, but the point still stands!!
:smashin:
Sidicks
 

The latest video from AVForums

Podcast: Large Screen HDR TV or Projector For Home Cinema + Best of the Month
Support AVForums with Patreon

Top Bottom