[carlwaring]

One final post from me, just to put it into perspective a little.

Well, I say "from me". It's a link and quotes of a post over on the DS Forums.

This is the original post

http://www.kidderminstershuttle.co.u...Forest_s_ex_MP

FORMER Wyre Forest MP, Dr Richard Taylor, will receive £32,383 as a golden goodbye after losing his seat in the General Election.

Departing MPs are receiving one-off resettlement grants of 50 to 100 per cent of their annual salary, dependent on their age and length of service.

The first £30,000 is tax-free and is in addition to a Parliamentary pension.

The grant has been seen as the equivalent of a redundancy payment, so MPs find it easier “adjusting to non–Parliamentary life”.

<snipped>

According to research by The Taxpayers’ Alliance (TPA), 218 departing MPs are entitled to a total of £10.4 million – an average of £47,706.

Within that figure, defeated MPs are entitled to £3,312,328 in total.

In their submission to Sir Christopher Kelly’s inquiry into MPs’ pay and expenses, the TPA has recommended awarding defeated MPs one month’s pay.

According to its research, the highest payout in the West Midlands go to former Birmingham, Ladywood MP, Clare Short and Cannock Chase’s Tony Wright, who both stepped down and will receive £64,766 each.

http://www.independent.co.uk/news/uk...s-1692548.html

The dozen MPs who are quitting at the next election in the wake of the expenses scandal will receive from the taxpayer "golden goodbyes" worth more than £1m combined.

Their continuing salaries will cost a further £600,000 if the Prime Minister Gordon Brown delays calling the polling day until next spring.

And they will leave Westminster knowing that they sit on a combined taxpayer-subsidised pension pot of some £12.5m – more than £1m each.

<snipped>

Seven of the 12, including Mr MacKay, will get handouts worth more than £105,000. Ms Moran is in line to pick up £95,000, while Ms Kirkbride will receive £73,000.

Apart from Michael Martin, who is quitting as both Speaker and as an MP next month, the MPs qualify for two handouts because they are remaining in the Commons until next year.

All MPs who step down or are defeated at a general election are paid a "resettlement grant" of up to a year's salary – currently £64,766 – varying according to their age and length of service. The first £30,000 is tax-free.

In addition, all MPs can claim a maximum of £40,799 for "winding-up costs", covering the cost of paying off staff and ending office leases.

Their final salary pension schemes mean that departing MPs with 27 years' service are entitled to an annual pension of £43,400 at today's prices when they reach the age of 65.

Even an MP with only 13 years in the Commons, such as Ms Kirkbride or Ms Moran, could expect to receive a pension of more than £20,000.

Pensions expert Tom McPhail, of Hargreaves Lansdown, said: "The scheme is unsustainably generous. It exists in a different world to the 28 million working taxpayers."

---------- Post added 27-12-2012 at 00:01 ---------- Previous post was 26-12-2012 at 23:04 ----------

http://www.bbc.co.uk/news/uk-20844251
"National Audit Office to examine BBC pay-offs"

As with the previous investigation of this type (ie executive pay), I'm sure they will find nothing wrong.