§ Mr. Deakins
asked the Chancellor of the Exchequer what pensions are currently paid to each former Prime Minister; and how annual changes in such pensions are calculated.
§ Mr. Gow
Under section 26 of the Parliamentary and other Pensions Act 1972, former Prime Ministers on leaving office are awarded pensions of 15/40ths of their full salary, irrespective of length of service. Increases are paid each year from the same date and by the same amount as the increase in the additional component of the state pension, which is linked to the retail prices index. This is subject to the pension in payment not exceeding the amount of pension that would be paid to the current Prime Minister on leaving office.
It is not normal practice to publish details of individual pensions. The basic pension entitlements of former Prime Ministers are set out in the supplementary statements on the Consolidated Fund and National Loans Fund Accounts (section 1. annuities and pensions). With the addition of pension increases the majority of pensions in payment to former Prime Ministers are at the maximum current entitlement of £15,709 per annum.