New Delhi: Boris Johnson retired as the Prime Minister of Britain a while ago. Liz Truss replaced him as the new PM of the UK. Johnson’s departure will mean official perks including a handsome amount of pension. Let us have a look at how much will the former British PM get as pension allowances.
Retirement Fund of Boris Johnson
At the time when Boris Johnson got down from the post of the British Prime Minister, he was rewarded a lumpsum amount of £18,860. It is similar to a Retirement Fund or Employees Provident Fund (EPF) in India.
Golden Goodbye of Boris Johnson
Boris Johnson will receive a £18k Golden Goodbye (called the Golden Goodbye Employment Contract, under which the employee gets some funds when the job is lost) and £115k an annual allowance, in addition to the last reward. The parallel amount in INR is Rs 1 crore, 62 lakh.
Money will be spent on public duties
This means that Johnson will receive a quarter of the prime minister’s salary, or £75,440, for leaving office. This figure is with annual public duty cost allowances. That is, it allows the former PM to claim up to £115,000 per year on his staff, office and other expenses. However, this money is available only for official and public duties.
Can claim 10 per cent for pension
Johnson’s predecessors Sir John Major, Sir Tony Blair, Gordon Brown, David Cameron and Theresa May aka Lady May also claimed the allowance since departing Downing Street. Under this scheme, Johnson can also claim up to 10 per cent of the cost of this allowance for the pension of employees who continue to work in their offices after their retirement.
