The basic annual salary of a Member of Parliament (MP) in the House of Commons is £91,346, plus expenses, from April 2024.
In the medieval House of Commons, constituents sometimes paid their MPs or covered their expenses, but this custom died out by the late 17th century.
[1][3] The early Labour Party MPs were financially supported by trade unions, but in the Osborne case in December 1909, the Law Lords blocked this.
[25] If an MP stands down during the course of a Parliament due to ill health, an ill health retirement grant is payable, calculated in the same way as the Resettlement Grant (as well as an immediate pension based on the service the MP would have accrued if they had continued to serve until age 65).
[26] On leaving the House of Commons, an MP will be entitled to what is essentially severance pay.
The amount is based on age and length of service, and varies between 50% and 100% of the annual salary payable to a Member of Parliament at the time of the dissolution.
As stated above, the amount retiring MPs, or those who lose their seats receive, depends on how old they are and how long they have served in the House.
[2][29] An allowance of up to one third of the annual Office Costs Allowance was paid for the reimbursement of the cost of any work on parliamentary business undertaken on behalf of a deceased, defeated or retiring member after the date of cessation of membership.
This amount is in addition to any stationery and postage costs which Members may have reimbursed under the Independent Parliamentary Standards Authority's expenses Scheme.
[31] During the COVID-19 pandemic MPs were able to claim additional expenses of up to £10,000 to support the costs of them and their staff working from home.
They can opt to receive a £361 per day attendance allowance, plus travel expenses and subsidised restaurant facilities.