Anger over rise in MP pensions

MPs came under fire for their gold-plated pensions today after it emerged that the cost of their retirement had soared by 25%.

Figures showed that the amount taxpayers have pumped into the Parliamentary scheme has rocketed by nearly a quarter over five years, up from £9.8 million in 2003 to £12 million.

An MP with 20 years' service can now expect to receive a pension of around £30,000 a year at today's prices, according to a ministerial answer to Liberal Democrat Work and Pensions spokesman, Rochdale MP Paul Rowen.

A further £15 million of taxpayers' cash was spent over the past year helping to plug a £100million black hole caused by the Treasury taking a "contributions holiday" from the scheme between 1989 and 2003.

Mr Rowen said: "This extravagance is an insult to hard-pressed taxpayers and should be reviewed. MPs need to tighten their belts too. This is unacceptable, most private sector pensions have lost up to 30% of their value in the last few weeks yet that of MPs is copper bottomed and guaranteed regardless of economic circumstances."

Rochdale’s Labour Parliamentary Candidate, Simon Danczuk, said it was hypocritical of Paul Rowen to be condemning MPs’ extravagance when he had claimed councillor expenses for two years since being elected in 2005. 

“You cannot be a good MP and a good ward councillor at the same time,” he said. “Paul Rowen knows this but he was quite happy to line his pockets with thousands of pounds of taxpayers' money while compromising his position and letting down residents."