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MPs in line for huge pensions

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22/05/2006

The Prime Minister and his cabinet will pick up ‘gold-plated’ pensions worth a total of £25 million.

Taxpayers will foot most of the bill for these massively generous pensions – which ministers can take at retirement at 60. This news will anger many at a time when the Government is set to reveal that normal UK workers will be told they must work until 68.

The multi-million Cabinet pension pot will provide annual pension rewards of more than £50,000 for senior ministers and £123,000 a year for Tony Blair. By contrast, millions of British pensioners face penury in retirement.

The average worker, with a £40,000 company pension pot, will get just £1,600 a year to add to a £75 weekly state pension which has itself been condemned as inadequate by campaigners.

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