Details of MPs' pensions
As you will be aware, IPSA conducted a comprehensive review of MPs’ pay and pensions between 2012 and 2015.
You can find full details of that review on our website via this link.
In December 2013, we confirmed our proposal for MPs’ pensions that from the 2015 general election all future accrual should be on a career average re-valued earnings (CARE) basis, in a scheme based on the model used for the reform of other public service schemes.
The new pension scheme was laid before Parliament in December 2014 and came into effect at May 2015. The new pension scheme can be found on our website via this link.
For some MPs close to retirement, a transitional arrangement was put in place. As part of these arrangements, some MPs remained in the old (final salary) pension scheme.
At the time of responding, 149 MPs remained in the old final salary pension scheme, and 431 were in the new CARE scheme.
More information about the MPs’ Pension Scheme can be found on the website of the Parliamentary Contributory Pension Fund (PCPF).
 A small number MPs have opted out or have reached the maximum age to be able to contribute.
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- March 23, 2017
- MPs' PAY AND PENSIONS
- Exemptions Applied: