Eighty two MPs will lose their pension rights if they fail to get re-elected in five years time. Budget 2022 announced that a Member of Parliament would have to serve 10 years to qualify for the pension as opposed to five years at present.
In the current Parliament out of 225 members only 98 members have completed 10 years.
If the current Parliament runs its full length until 2025 another 45 MP’s who complete the full term will be eligible for pension under the new proposal.
In the current parliament 82 members who will not get elected for a further five years at the next general election will not be eligible for a pension according to the new budget proposal by the finance minister.
Among them are 67 SLPP MP’s and 06 SJB MP’s with others coming from smaller parties.