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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]
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Current permitted salary and benefits: Commons
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]
Office expenses
- Office running costs
- Staffing costs
- Travel: staff
- Centrally purchased stationery
- Postage costs
- Central IT costs
- Communications Allowance
Housing, second home, and travel
MPs receive allowances towards having somewhere to live in London and in their constituency, and travelling between Parliament and their constituency.
- Cost of staying away from main home
- Travel: car
- Travel: rail
- Travel: bike
- Travel: European
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, however they are not significantly more generous than most public sector pensions.[6]
Relocation Grant
On leaving the House of Commons, an MP will be entitled to what is essentially severance pay. In the UK the first £30,000 of severance pay is tax free. The amount retiring MPs, or those who lose their seats 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]
Summer Recess
- Parliament takes an 80-day break for the summer. This is not only for holiday, but so that MPs can spend more time away from parliament in their constituencies to do work there.
Current permitted salary and benefits: House of Lords
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History of changes to salary and expenses rules
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Year Changes
Scrutiny and audit process of claims
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See also
References
- ^ "Pay and allowances for MPs". www.parliament.co.uk. http://www.parliament.uk/about/how/members/pay_mps.cfm. 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]
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