Property News · July 16, 2013

MPs' pay: the truth about the so-called pension cuts


The proposal to raise MPs’ pay to £74,000 got the headlines, but what seems to have slipped under the radar is the suggestion that this will also increase their pensions – contrary to claimsWhen the news broke that, on the recommendation of the Independent Parliamentary Standards Authority (IPSA), MPs might get a £7,600 pay rise, it was balanced by talk of a cut in their pensions. But closer reading of the report reveals that if the proposals are adopted, existing MPs could actually see their retirement income rise – at a cost of at least £10m to taxpayers.IPSA’s proposal that MPs’ salaries increase to £74,000 grabbed the headlines, but what seems to have slipped under the radar is its suggestion that this pay rise should also immediately increase the pensions earned by MPs to date. IPSA says it has been told this might cost £10m; I think it could easily be closer to £25m. Continue reading…

Source : theguardian.com
Read more…MPs’ pay: the truth about the so-called pension cuts

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