Ordinary workers now have to build and invest their own savings to prepare for retirement, with their employer obligated to contribute just 3% of their salary to their retirement fund.
MPs earn a pension of £16,500 a year on retirement after just 10 years of work and an income of £33,000 after 20 years. Yet it would take the average private sector worker 49 years to accumulate a pension income of £16,500 a year, making MPs’ pensions five times more generous, the analysis finds.
Laith Khalaf of AJ Bell said MPs benefited from an “extremely generous” pension scheme which allowed them […]
Full Post at www.thebharatexpressnews.com