§ Lord Pearson of Rannochasked Her Majesty's Government:
What are the pension arrangements for former European Union Commissioners, including the amounts paid. [HL559]
§ Baroness Symons of Vernham DeanFormer European Union Commissioners are entitled to a pension from the day they reach 65 of 4.5 per cent of the Commissioner's final basic salary for each whole year of service in the Commission plus one-twelfth of this amount for each additional month's service, subject to a maximum of 70 per cent of the final basic salary. The pension is subject to Community tax and exempt from national taxes. Former Commissioners may start drawing their pensions from the age of 60, subject to the application of a coefficient ranging from 70 per cent at age 60 to 95 per cent at age 64. Since 1 July 2004, the basic salary of a Commissioner has been 18,233 euros a month, for Vice Presidents 20,259 euros a month, and for the President 22,366 euros a month.