FEDERAL MPs have been awarded a
generous redundancy deal of up to six months pay, allowing them to
pocket up to $70,455 to cushion the blow of losing their job.
The Remuneration Tribunal has doubled the "resettlement allowance" for MPs who serve more than one term - but it could leap to $125,000 if politicians get a much-anticipated pay rise next year. The politicians' bonus is far more than the redundancy available to other workers.
The news will be welcomed by the 54 lower house MPs and senators elected after the parliamentary superannuation scheme was wound back prior to the 2004 election.
Given the Labor Party's leadership crisis - and the possibility of an early election - those MPs could be on the receiving end of the increased redundancy payments sooner than expected.
While politicians get a windfall, some NSW employees are entitled to as little as four weeks' redundancy while the most is 16 weeks pay for around 10 years, or 20 weeks for those aged 45 and over. Full Read
The Remuneration Tribunal has doubled the "resettlement allowance" for MPs who serve more than one term - but it could leap to $125,000 if politicians get a much-anticipated pay rise next year. The politicians' bonus is far more than the redundancy available to other workers.
The news will be welcomed by the 54 lower house MPs and senators elected after the parliamentary superannuation scheme was wound back prior to the 2004 election.
Given the Labor Party's leadership crisis - and the possibility of an early election - those MPs could be on the receiving end of the increased redundancy payments sooner than expected.
While politicians get a windfall, some NSW employees are entitled to as little as four weeks' redundancy while the most is 16 weeks pay for around 10 years, or 20 weeks for those aged 45 and over. Full Read
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