election - it pays to lose
WORKERS, JUNE 2005 ISSUE
The two Labour ministers dumped by the electorate on 5 May, Stephen Twigg and Melanie Johnson, will receive "redundancy" payments in the region of £200,000 each. This is based upon the formula of parliamentary salaries, allowances and pensions they would have received for being ministers. Not bad for an employment period of eight years!
In addition they will access one of the best pension schemes in Britain which MPs set for themselves in 2002. The pensions they will draw would require a purchasing power of between £175,000 and £200,000 on the open market.