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Honourable Members

Telegraph | News | Taxpayers forced to fill hole in MPs' pensions

The parliamentary pension fund - one of the most generous in Europe - is facing the same difficulties as most other public and private schemes.

Its deficit has almost doubled to 49.5 million because of increased life expectancy and reduced investment returns, partly caused by Gordon Brown's 5 billion a year "stealth" tax on dividends.
While people in occupational schemes and millions of local government workers are being told they will have to work longer, taxpayers will foot the bill for the MPs' shortfall.
...Mr Blair and Stephen Timms, the pensions minister, insisted that the taxpayer could not be expected to bail out people whose pension schemes had collapsed. (apart from MPs obviously).

Up to a million Council staff walked out on Tuesday in protest against the pension changes, and further strikes are planned for next month.

At the centre of the dispute is the so-called Rule of 85. This allows council employees to retire at 60 without suffering loss of pension for early retirement, provided their age and years of service add up to 85. The Government claims it must go because of EU rules.

However, MPs will continue to benefit from their own early retirement "Rule of 80". While their normal retirement age is 65, they can draw their full pension from 60, provided their age plus service as an MP totals 80 years or more.

..thou art cursed above all cattle, and above every beast of the field; upon thy belly shalt thou go, and dust shalt thou eat all the days of thy life: - No just dreaming. Their snouts are so welded to the trough whatever anyone says makes no difference, until the election, or The Glorious Day, which ever comes first, and just in case if I'm not in when you call this morning I will be down in the barn oiling up 635 lengths of hempen rope

Comments

It's got to go because of EU rules? Who runs this country again?

635 lengths of hempen rope
Or piano wire for anyone in the cabinet.

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