The pensions of deputies are five times more generous than those of private sector employees

The pensions of deputies are five times more generous than those of private sector employees

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 […]

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