Here’s the thing: No, they don’t keep getting their full MP salary forever. That would be the ultimate golden parachute, right? Imagine resigning in a huff and then collecting a paycheck for the next ten years. Not a chance.
Once an MP officially resigns—by grabbing the Chiltern Hundreds or the Manor of Northstead (yes, those are real, ridiculously named jobs they “take” to quit)—their salary stops. Poof. Gone. The very next pay cycle, they’re out of the club.
But Wait, There’s Always a “But”
Ah, but this is politics, my friend. Nothing is that simple, is it? They don’t get their £91,000-ish annual salary anymore. However, there are little sprinkles of financial love they can still receive.
For example, they get a resettlement grant. Think of it as a “thanks for playing” bonus. It’s calculated based on how long they served. One rule: You can’t run for re-election right away if you take it, or you have to pay it back. Sneaky, right?
The grant is not a pension. It’s a one-time lump sum to help them “adjust to life outside Parliament.” You know, for all those months they’ll spend figuring out how to buy their own groceries again. Broke back to reality.
OPM Update: How Deferred Resignation Lets You Resign & Still Get Paid
