§ Mr. Arthur Lewisasked the Minister for the Civil Service what is the current pension of an hon. Member who is a retired Prime Minister; whether this is payable irrespective of time in office; whether this is paid in addition to any other parliamentary income received; and what is the pension payable to an hon. Member after 30 years' service if he retires at 60 years of age.
§ Mr. Charles R. MorrisThe pension payable to a Prime Minister on retirement is currently £7,500 a year. This is not related to length of service and parliamentary salary of £3,700 a year may be drawn in addition. An hon. Member retiring at age 60 on 7th July with 30 years' parliamentary service would be entitled to a pension of £2,882 a year preserved for payment from age 65 which is the normal retiring age for the scheme. This assumes 21 years and 225 days of reckonable service given that not more than 10 years of parliamentary service may reckon prior to 16th October 1964. The preserved pension attracts increases under the Pensions (Increase) Act 1971 and could be put into payment on an actuarially reduced basis between age 60 and 65.