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gruffydd

Mps Pension Schemes

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http://www.sundayherald.com/52389

"Holders of the major offices of state are guaranteed a full pension the moment they receive their seals of office from the sovereign, even if they are sacked a week later.

MPs can now enjoy a super-dooper 40ths scheme, if they pay 9% of their salary as their contribution, instead of 6%. That gets them one-fortieth of their final salary for every year of service.

The rest of us, if we are lucky enough to still be in a final salary scheme, typically have to make do with 60ths or even 80ths.

Oh yes, and two years back the Exchequer tripled its contribution to their pension scheme (from 7.9% of MPs’ salaries to 24%) to help meet a deficit of £25m." (extract)

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http://www.sundayherald.com/52389

"Holders of the major offices of state are guaranteed a full pension the moment they receive their seals of office from the sovereign, even if they are sacked a week later.

MPs can now enjoy a super-dooper 40ths scheme, if they pay 9% of their salary as their contribution, instead of 6%. That gets them one-fortieth of their final salary for every year of service.

The rest of us, if we are lucky enough to still be in a final salary scheme, typically have to make do with 60ths or even 80ths.

Oh yes, and two years back the Exchequer tripled its contribution to their pension scheme (from 7.9% of MPs’ salaries to 24%) to help meet a deficit of £25m." (extract)

Not surprised really, but it is a disgrace nonetheless.

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I think I would prefer it if we went back to the days when MPs were unpaid or paid very little (ie all had private incomes, owned businesses, land or whatever). At least they would have not been blinded to the pensions fiasco by having their noses deep in the trough.

it is no different to the board of directors pensions vs the company workers - but I have yet to hear the unions slag MPs off for it.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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