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). Since the May 2010 General Election IPSA has been responsible for the regulation and payment of expenses to Members of the House of Commons.
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
The basic annual salary for an MP from April 2020 is £81,932. MPs lost the right to set their own pay following the appalling expenses scandal, which happened before I was elected to Parliament. On 24 May 2011 IPSA was made responsible for determining MPs' pay and setting the level of any increase in their salary. IPSA is also responsible for the oversight of the MPs' pension scheme. You can read more about IPSA, MPs pay and expenses here: http://www.theipsa.org.uk
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 This mirrors other public sector schemes where final salary has been replaced by career average.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.