You are here: Home - Uncategorized -

MPs in line for huge pensions

0
Written by:
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.

Related Posts

Tagged:

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

  • Given the Brexit uncertainty, you may be looking to protect your pounds ahead of your next holiday. Here are five w… https://t.co/pjn2d3P41E
  • If you are concerned you may miss the 31 January HMRC deadline to file your tax return, here are five excuses that… https://t.co/BRoNxdNLXM
  • Millions of Lloyds, Halifax and Bank of Scotland customers unable to make and receive payments in latest bank IT me… https://t.co/bKospYHViX
  • RT @YourMoneyUK: Millions of Lloyds, Halifax and Bank of Scotland customers unable to make and receive payments in latest bank IT meltdown…
  • RT @YourMoneyUK: Millions of Lloyds, Halifax and Bank of Scotland customers unable to make and receive payments in latest bank IT meltdown…
  • Make sure you're not paying more than you need to for your #energy. Check when your fixed deal ends and pop a note… https://t.co/OCfiU236o1

Read previous post:
Pensions to cost businesses more

Businesses anticipate a sudden rise in pensions costs, after the Treasury Select Committee weighed in behind Adair Turner’s proposal for...

Close