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Calls for disgraced MPs pensions to be reduced

As we have covered on a number of occasions, the MPs expenses scandal has caught the attention of the UK public and ultimately led to the demise of a number of key figures in the UK government and UK opposition parties. However, it has become apparent that because of the very generous pension arrangements enjoyed by UK MPs, even those MPs who are set to resign at the next election will walk away with significant pensions, many of which are over £1 million in value if acquired on the open market.

While there is no specific legal path toward reclaiming pensions from MPs who have allegedly made false expense claims, UK MPs were very quick to criticise Sir Fred Goodwin when he walked away with his Royal Bank of Scotland pension fund. Many people believe that MPs should at least give back part of their pension pot if found to have "cheated the system" although the likelihood of this happening is very small.

For many years UK MPs have actually ruled upon their own salaries, pension arrangements and expenses under the impression they would never be made public. However, they have been made public and changes are afoot but many believe this is not enough.

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