To do my job as your MP there are certain expenses that I have to claim. These include paying for staff, funding accommodation for when I am in London and covering the costs of my offices in the constituency and in Parliament. Everything I claim for is publicly recorded and checked by the Independent Parliamentary Standards Authority (IPSA).
I do not claim everything MPs are entitled to claim for. My predecessor did claim many of these expenses. My expenses can be found at:
MP Pay and Pensions
MPs are presently paid £74,000, as of the 8th May 2015, following an announcemenyt by the Independent Parliamentary Standards Authority in July 2015. MPs lost the right to set their own pay following the appalling expenses scandal. Pay and pensions are now set by the Independent Parliamentary Standards Authority. You can read more about MPs pay and pension reform here http://parliamentarystandards.org.uk/payandpensions/Pages/default.aspx
It is often misreported that MPs receive their pension as soon as they leave office. This is not correct as MPs can only take their pension at the normal pensionable age.
In the 2010-15 Parliament MPs continued to receive a generous final salary scheme, bought at increments of 1/50th 1/40th or 1/60th. The decision on how MP pensions is now taken independently by IPSA. I supported reform to this overly generous pension scheme as I did to other public sector pension schemes.
From 2015 onwards, the MP pension scheme has been changed to a less generous career average scheme. This mirrors other public sector schemes where final salary has been replaced by career average. The cost of this new scheme to the taxpayer is now 13.01% of an MP's salary, down from over 20% under the previous more generous scheme.
I previously turned down a taxpayer funded pension scheme in my previous employment.