Taxpayers to pay millions to fund MP pensions

#1
http://www.dailymail.co.uk/pages/li...rticle_id=381563&in_page_id=1770&in_a_source=

Taxpayers must pay millions more to fund MPs' lavish pensions, the Government has announced.
MPs' gold-plated retirement packages are to be topped up with an extra £1.2million a year - on top of the £13million taxpayers already pay for them annually.

Geoff Hoon: Announced the rise

The move is to meet a shortfall of nearly £50million in the £ 278.6million pensions fund which has nearly doubled in the last three years.

It means that at a time when the pensions crisis is causing misery for millions of private-sector workers, their hard-earned taxes are being used to protect the retirements of the 646 highly-paid MPs.

MPs, who earn £60,277, already have one of the best pension deals in the country - and voted to make it even better a few years ago at the taxpayer's expense.

While thousands of companies have been forced to close their final-salary schemes because of the pensions crisis, MPs' pensions remain on a final salary basis.

An MP who has served 26 years retiring today could expect to receive an annual inflation-proof payout of £40,000 from his pension.

One of his constituents would have to build up a massive pension pot worth about £800,000 to get the same sort of pension. But this is highly unlikely - the average amount in a company pension pot on retirement is only £40,000, or £28,000 for a personal pension. For a worker with a £40,000 company pension pot, they could expect a pension of just £1,600 a year.

State contributions for MPs are more than four times higher than the average paid out by companies for final-salary schemes.

The announcement came just two days after council workers took part in a nationwide strike over their own pension plans.

It caused outrage among critics who said trust in politicians was at rock bottom following the loansforpeerages scandal.

Questions will be raised about the timing of the announcement - which was slipped out on the last day before the Easter recess.

Leader of the Commons Geoff Hoon announced that the contribution to MPs' pensions from the public purse was to rise by 2.8 per cent - worth £1.2million a year - taking the level of Exchequer contributions from 24 per cent to 26.8 per £13million. The remaining £ 7million was the result of interest accrued since 2002.

Deputy Prime Minister John Prescott, who has served nine years as a Cabinet Minister and 27 years as a backbench MP, can expect a generous pension package worth more than £55,000 a year - and a total pension fund of more than £1million.

Besides generous pensions schemes, MPs' perks include travel and housing expenses, 80-day summer holidays and 'parachute' payments worth tens of thousands of pounds when they lose their seat.

The increase in the state contribution was recommended by the Government Actuary, which assesses the pensions fund every three years - but it would have been rubberstamped by Tony Blair, the Chancellor and the Cabinet.

Former independent MP Martin Bell said: 'It fundamentally undermines public trust in public life, which is already at a low ebb, that MPs have all these special privileges that other citizens don't have.'

James Frayne, campaign director of the TaxPayers' Alliance, said: 'MPs can't criticise public sector strikes on pensions one day and then expect the taxpayer to top up their own generous pension schemes the next. It's unbelievable hypocrisy.'

Pay rises of 2 per cent for MPs and ministers were also announced yesterday - taking an MP's salary from £59,095 to £60,277, while Cabinet ministers' salaries rise from £133,997 to £136,677. Mr Blair's pay will rise from £183,932 to £187,610.
So Ladies & gents, what do you think of this generous scheme to our hard-working industrious masters :wink:
 
#2
So Ladies & gents, what do you think of this generous scheme to our hard-working industrious masters
Sorry Dui , I'm not able to read it. I got as far as "Geoff Hoon said" and the red-mist filter descended :(
 
#3
can't we get them to go on strike and replace with squaddies for say 6 weeks :twisted:
 
#4
brighton hippy said:
can't we get them to go on strike and replace with squaddies for say 6 weeks :twisted:
That's the best suggestion i've heard in ages!!! :lol: :lol: :lol:
 
#5
Thieving b@stards
The tax man is allready porking me hard enough to make me better off if I was on the dole.
I recently got a reasonable payrise onlt to loose a third of it direct to tax and NI

Time our elected representetives got a dose of the real world they have created for us.....
 
#6
Ok, hard as it is to defend the cnuts in Government at the moment...

In many respects being an MP isn't that great a job. For a lot of people, there's fcuk all job security; the 80 day summer holiday doesn't actually translate to 80 days off, it just means you're working at home instead of Westminster; while you are at Westminster you work ridiculous, ridiculous hours, especially if you're part of the Government; you're often often obliged to defend or support measures or policies you violently disagree with; any aspect of your, or your family's, personal life is liable to get plastered over the papers; you also have to put up with the most vitriolic personal abuse.

In return for this, they get a degree of fame, power, decent pensions and a half decent salary. Most politicians are fairly egotistical, and are drawn to politics essentially because they like the sound of their own voices and wish, to the greatest extent possible, to inflict their views upon others. Hence, regardless of financial reward, one will always find far more people wanting to be MPs than there are seats in the Commons.

But surely everyone wants the standard of MPs in the house to be as high as possible; there's nothing I find quite as depressing as watching a debate in the House, and just being left stunned by some of the vacuous, ineloquent lumps that stand up to speak. The trouble with attracting people of the calibre that one would like to see in politics is that they tend to be earning vastly more already then they could ever hope to earn in Parliament. Given there seems no likelihood that any of the other drawbacks of a political career are going to go away, no good at all will be done for the cause of attracting decent people if we start slashing parliamentary salaries and pensions. If anything the basic salary should be markedly increased.

I know one should enter public service out of a sense of duty, and that serving one's country ought to be reward enough, but it's one thing agreeing to that sentiment in the abstract, it's another taking a £200,000 pay cut when one's got a mortgage and school fees to pay. Reducing pensions is hardly going to encourage anyone to take the plunge.
 
#7
I'd rather this type of self serving thief did not find Parliament attractive oxoniensis
We'd be better off without them
Despite various claims about the state of the economy I've never been worse off
 
#8
oxoniensis said:
Ok, hard as it is to defend the cnuts in Government at the moment...

In many respects being an MP isn't that great a job. For a lot of people, there's fcuk all job security; the 80 day summer holiday doesn't actually translate to 80 days off, it just means you're working at home instead of Westminster; while you are at Westminster you work ridiculous, ridiculous hours, especially if you're part of the Government; you're often often obliged to defend or support measures or policies you violently disagree with; any aspect of your, or your family's, personal life is liable to get plastered over the papers; you also have to put up with the most vitriolic personal abuse.

In return for this, they get a degree of fame, power, decent pensions and a half decent salary. Most politicians are fairly egotistical, and are drawn to politics essentially because they like the sound of their own voices and wish, to the greatest extent possible, to inflict their views upon others. Hence, regardless of financial reward, one will always find far more people wanting to be MPs than there are seats in the Commons.

But surely everyone wants the standard of MPs in the house to be as high as possible; there's nothing I find quite as depressing as watching a debate in the House, and just being left stunned by some of the vacuous, ineloquent lumps that stand up to speak. The trouble with attracting people of the calibre that one would like to see in politics is that they tend to be earning vastly more already then they could ever hope to earn in Parliament. Given there seems no likelihood that any of the other drawbacks of a political career are going to go away, no good at all will be done for the cause of attracting decent people if we start slashing parliamentary salaries and pensions. If anything the basic salary should be markedly increased.

I know one should enter public service out of a sense of duty, and that serving one's country ought to be reward enough, but it's one thing agreeing to that sentiment in the abstract, it's another taking a £200,000 pay cut when one's got a mortgage and school fees to pay. Reducing pensions is hardly going to encourage anyone to take the plunge.
Politics attracts a certain type of people - lying, greedy, two-faced, arrogant sc*mbags. Raising the salary won't change anything, highly paid politicans in the US for example are just as bad as ours.

Anyway the salary is irrelevant as the perks of the job more than make up for it - expenses for a start - the average MP gets about £150,000 a year when they're added in. In addition there are the company directorships, being able to get relatives lucrative seats on quangos etc.
 
#9
"you're often often obliged to defend or support measures or policies you violently disagree with; any aspect of your, or your family's, personal life is liable to get plastered over the papers; you also have to put up with the most vitriolic personal abuse."

Or ya could sign on and wear ya cuntrys uniform and get to

obliged to defend or support measures or policies you violently disagree with; any aspect of your, or your family's, personal life is liable to get plastered over the papers; you also have to put up with the most vitriolic personal abuse.

john
 
#10
Being an MP can't be that bad can it. There is no shortage of applicants. I just wish that they worked for 80 days a year and left the country for the rest of the year.

C
 
#11
Ex_ex said:
Politics attracts a certain type of people - lying, greedy, two-faced, arrogant sc*mbags. Raising the salary won't change anything, highly paid politicans in the US for example are just as bad as ours.

Anyway the salary is irrelevant as the perks of the job more than make up for it - expenses for a start - the average MP gets about £150,000 a year when they're added in. In addition there are the company directorships, being able to get relatives lucrative seats on quangos etc.
Not all politicians are like that. There are a number of decent, hard working people in Parliament (of every political persuasion); sadly they tend not to achieve the highest rank.

I know the expenses allowance is generous, but it is just that - expenses. The reason why it's so generous is that it does cost quite alot of money to run an office, shuttle back and forth to the constituency, arrange accomodation in London etc. It's hardly money in the back pocket. I just know that a number of people who'd like to enter politics are put off by the money, or at least delay entry so as to earn enough that they feel they can afford to do it.
 
#12
oxoniensis said:
Ok, hard as it is to defend the cnuts in Government at the moment...

In many respects being an MP isn't that great a job. For a lot of people, there's fcuk all job security; the 80 day summer holiday doesn't actually translate to 80 days off, it just means you're working at home instead of Westminster; while you are at Westminster you work ridiculous, ridiculous hours, especially if you're part of the Government; you're often often obliged to defend or support measures or policies you violently disagree with; any aspect of your, or your family's, personal life is liable to get plastered over the papers; you also have to put up with the most vitriolic personal abuse.

In return for this, they get a degree of fame, power, decent pensions and a half decent salary. Most politicians are fairly egotistical, and are drawn to politics essentially because they like the sound of their own voices and wish, to the greatest extent possible, to inflict their views upon others. Hence, regardless of financial reward, one will always find far more people wanting to be MPs than there are seats in the Commons.

But surely everyone wants the standard of MPs in the house to be as high as possible; there's nothing I find quite as depressing as watching a debate in the House, and just being left stunned by some of the vacuous, ineloquent lumps that stand up to speak. The trouble with attracting people of the calibre that one would like to see in politics is that they tend to be earning vastly more already then they could ever hope to earn in Parliament. Given there seems no likelihood that any of the other drawbacks of a political career are going to go away, no good at all will be done for the cause of attracting decent people if we start slashing parliamentary salaries and pensions. If anything the basic salary should be markedly increased.

I know one should enter public service out of a sense of duty, and that serving one's country ought to be reward enough, but it's one thing agreeing to that sentiment in the abstract, it's another taking a £200,000 pay cut when one's got a mortgage and school fees to pay. Reducing pensions is hardly going to encourage anyone to take the plunge.
I'm sure the 67 yr old B&Q shelf stacker on a six month contract, getting paid £5.50 an hour because the company for whom he worked for 30 years went under, taking his pension fund with it, will be crying them a river tonight. He will no doubt wake up in the morning and beg TCH and Broon to take a little more from him in tax so that little Tarquin can stay at Harrow- when Two Jags can't even be arrsed to pay his fecking Council Tax on his various property holdings. :evil:
 
#13
hmm lets think do we want the commons stuffed with millionaires?
who send all there kids to private schools and can afford private health care. So feel free to try there latest good idea on the public services knowing full well it won't effect them.
turf them out replace with squaddies although obviousy no one from the int corp .
or just make being an mp like jury service pick people at random
 
#14
oxoniensis said:
Ex_ex said:
Politics attracts a certain type of people - lying, greedy, two-faced, arrogant sc*mbags. Raising the salary won't change anything, highly paid politicans in the US for example are just as bad as ours.

Anyway the salary is irrelevant as the perks of the job more than make up for it - expenses for a start - the average MP gets about £150,000 a year when they're added in. In addition there are the company directorships, being able to get relatives lucrative seats on quangos etc.
Not all politicians are like that. There are a number of decent, hard working people in Parliament (of every political persuasion); sadly they tend not to achieve the highest rank.

I know the expenses allowance is generous, but it is just that - expenses. The reason why it's so generous is that it does cost quite alot of money to run an office, shuttle back and forth to the constituency, arrange accomodation in London etc. It's hardly money in the back pocket. I just know that a number of people who'd like to enter politics are put off by the money, or at least delay entry so as to earn enough that they feel they can afford to do it.
...They're called cleaners, they're on a contract, and they're on £5.50 an hour I believe.
 
#15
brighton hippy said:
hmm lets think do we want the commons stuffed with millionaires?
who send all there kids to private schools and can afford private health care.
Well without decent salaries and pensions that's all you'd get.
 
#16
the average snco would probably make a better job than some of the dross thats there at the moment :cry:.
lets face it
 

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