Not on these figures matey:
Pensions for MPs will cost taxpayers nearly three times the original estimate, it has been revealed.
The annual bill for funding MPs\’ generous final salary pension schemes could be as high as £20.5 million – or £29,000 for each one.
Of course, this isn\’t the figure publically announced:
The most recent Commons accounts report that the cost to the taxpayer of paying for this scheme is £7.8 million – or £11,000 per MP.
However this is calculated using an optimistic view of the stock market. Under an accounting treatment used by most companies and public bodies, the actual cost is £20.5 million, or £29,000 for every MP.
Pension contributions should be counted as pay, at least for the purposes of measuring the relative incomes from different jobs. For they are a form of delayed pay.
But as I\’ve said before, MPs are currently grossly over paid, as evidenced by the fact that so many people are both qualified to be one and eager to be so.