HC Deb 29 November 1994 vol 250 cc610-1W
Mr. Peter Bottomley

To ask the Chancellor of the Exchequer what is, for an out-of-London hon. Member and for a civil service assistant secretary, each with 20 years' reckonable service(a) the normal retirement age, (b) salary, (c) annual pension and (d) the deduction from salary for pension in the last year of employment.

Sir George Young

For a member of Parliament, the pension scheme assumes a normal retirement age of 65, but accrued pension benefits are payable at age 60 to a retired member with 20 years' service. The current parliamentary salary is £31,687. On retirement, taking 30 November 1994 as the last day of service, the pension would be £11,730, with an option to give up part of the pension to provide a lump sum. The maximum lump sum allowed at 60 would be £37,940, leaving a pension of £8,500. The deductions in the last year of employment would be £1,897, or 6 per cent.

For a civil service assistant secretary grade 5, the normal retirement age depends on the policy of the employing Department, but will be between age 60 and 70. The current salary would be between £36,739 and £54,815. Under principal civil service pension scheme, again assuming 30 November 1994 as the last day of service, the pension would be between £9,064,75 and £13,518,34, together with a lump sum of between £27,194.25 and £40,555.02. The deductions from salary in the last year of employment would be between £543.89 and £811.10. A deduction of 1½ per cent. of pay is made towards the cost of dependant benefits only. The value of pension provision is taken into account in setting rates of pay.