Members of parliament are set to receive a pay rise of more than £6,000 from 2015, though other allowances will be scaled back, the MPs expenses watchdog is set to recommend on Thursday.
MPs are currently paid £66,396, but the body will recommend a rise to £74,000 from after the 2015 general election, according to the BBC. This represents more than 9% of what MPs were due to receive in salary that year. However, the watchdog is also set to recommend a less generous pension scheme and lower ‘golden goodbye' payments, while there could also be cuts to meal allowances and taxi claims. The proposals will go to consultation before being finalised later this year.
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
