Proposals to increase MPs pensions contributions frozen in "kneejerk reaction" to expenses scandal

The BBC reports proposals agreed in March to increase MPs own contributions by £60 every month, but the Liberal Democrats claimed this would also increase the amount tax payers would pay to pensions by £750,000 from last year.

Paul Jayson, a partner at pensions actuaries Barnett Waddingham, said: "How would the electorate react to more public money being used to support the generous defined benefit pensions of MPs at a time when taxes are rising, jobs are being lost and private sector pension schemes are closing.

"[But] the effect is entirely illusory. MPs won't be getting any less benefit. All that has happened is the full cost of providing those benefits is not being paid and being left to be dealt with another day."