Salaries of members of the United Kingdom Parliament: Difference between revisions

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The current annual salary for an MP in the United Kingdom is £64,766. In addition, MPs will receive allowances to cover the costs of running an office and employing staff, and maintaining a second home.^[1]

Basic salary

The basic salary of an MP in the House of Commons was increased to £64,766 as of 1 April 2009.^[2]^[3] Many MPs (ministers, the Speaker, senior opposition leaders, opposition chief whip, etc) receive a supplementary salary for their specific responsibilities. As of the 1 April 2008 these increments range from £14,039 for Select Committee Chairs to £130,959 for the Prime Minister. MPs also receive extensive expenses, including paying for buying and furnishing second homes^[4] and a £400 monthly allowance for food. Receipts for claims below £250 are not required.

Second Homes

MPs receive allowances towards having somewhere to live in London and in their constituency, and travelling between Parliament and their constituency. 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.

Cost of staying away from main home
Office running costs
Staffing costs
Travel: car
Travel: rail
Travel: bike
Travel: European
Travel: staff
- Centrally purchased stationery
- Postage costs
- Central IT costs
Communications Allowance

Pension arrangements

MPs will normally receive a pension of either 1/40th or 1/50th of their final pensionable salary for each year of pensionable service depending on the contribution rate they will have chosen. Members who make contributions of 10% of their salary gain an accrual rate of 1/40th.^[5] An MP who has served 26 years and retiring today could look forward to receiving an annual inflation-proof payout of £40,000 from his pension. According to a 2009 report in the Daily Mail, state contributions for MPs are more than four times higher than the average paid out by companies for final-salary schemes ^[6]

Golden goodbyes

On leaving the House of Commons, an MP will be entitled to a "golden goodbye", the first £30,000 of which is tax free. The amount retiring MPs receive depends on how old they are and how long they have served in the House. There is up to £42,000 on offer to pay for winding up staff contracts and office rent. ^[7]

House of Lords

References

^ "Pay and allowances for MPs". www.parliament.co.uk. Retrieved 2009-05-25.
^ www.parliament.uk
^ news.bbc.co.uk
^ http://www.guardian.co.uk/politics/2004/oct/22/houseofcommons.uk
^ parliament.uk
^ www.dailymail.co.uk
^ [1]

[1] "Pay and allowances for MPs". www.parliament.co.uk. Retrieved 2009-05-25.

[2] www.parliament.uk

[3] ws.bbc.co.uk

[4] ttp://www.guardian.co.uk/politics/2004/oct/22/houseofcommons.uk

[5] rliament.uk

[6] www.dailymail.co.uk

[7] [1]

[1]

[2]

[3]

[4]

[5]

[6]

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 ==Golden goodbyes==
-On leaving the House of Comons, an MP will be entitled to a "golden goodbye", the first £30,000 of which is tax free. The amount retiring MPs receive depends on how old they are and how long they have served in the House.  There is up to £42,000 on offer to pay for winding up staff contracts and office rent. <ref>[http://news.bbc.co.uk/1/hi/uk_politics/8074351.stm]</ref>
+On leaving the House of Commons, an MP will be entitled to a "golden goodbye", the first £30,000 of which is tax free. The amount retiring MPs receive depends on how old they are and how long they have served in the House.  There is up to £42,000 on offer to pay for winding up staff contracts and office rent. <ref>[http://news.bbc.co.uk/1/hi/uk_politics/8074351.stm]</ref>
 ==See also==