Hidden cost of MPs' pensions
Use of outmoded discount rates has hidden the true cost of pensions for members of the UK's Houses of Parliament, with research suggesting that a realistic assessment of the costs could see the price of this benefit reach nearly 50% of salary.
According to the 2005 valuation for the Parliamentary Contributory Pension Fund (PCPF) by the UK Government Actuary Department (GAD) the scheme is sitting on £328 million of liabilities and is facing a £50 million deficit. However, this figure is reached
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