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John Bercow walks away with tax-payer funded £1 million pension

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Mr Bercow’s retirement package is believed to be one of the most generous in the country and will pay him £38,000 a year when he retires. Yesterday the Commons Speaker said he would quit in the event of MPs voting for a general election next month and if not he will stand down on October 31, the current Brexit deadline. In 2012, Mr Bercow refused to follow Gordon Brown and David Cameron who gave up the non-contributory pension which was given to former Prime Ministers and Speakers.

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As Speaker of the House of Commons Mr Bercow’s salary has overtaken the Prime Minister’s and stands at £155,000.

In order for a retiree to have a pension of this amount, they would need to have a pension pot of £1 million.

This pension of the Speaker is index-linked, which means it goes up with the cost of living, and involves no contribution by the recipient.

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Mr Bercow has enjoyed living in his apartment at the Speaker’s House where he does not contribute to rent or running costs.

This comes despite critics accusing Mr Bercow of doing anything within his power of derailing the Brexit process.

The Buckingham MP angered Eurosceptics but was praised for boosting the Backbenchers during his time as Speaker.

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READ MORE John Bercow resigns: Who will be the next Speaker? 

He also proved controversial when he used his position as Speaker to express his opposition to Donald Trump addressing Parliament during a state visit.

When he became Speaker, he said he would serve nine years but he decided to stay on to see through the Brexit process.

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MPs Sir Lindsay Hoyle and Harriet Harman are frontrunners to replace the Speaker.

According to which.co.uk, the average retiree household in the UK spends around £27,000 a year.

When he announced he would be standing down as Speaker, he said: ““In 2017 I promised wife and children it’d be my last, this is a pledge that I intend to keep – if House votes for early election my tenure will end, if the House doesn’t I have concluded that least disruptive course of action would be for me to stand down for close of business on October 31.”

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“Least disruptive because that date will fall shortly after the votes on the Queen’s speech on the 21st and 22nd of October.”

Mr Bercow’s wife Sally was sitting in the public gallery to hear his husband announce the news.

John Bercow walks away with tax-payer funded £1 million pension

Mr Bercow’s retirement package is believed to be one of the most generous in the country and will pay him £38,000 a year when he retires. Yesterday the Commons Speaker said he would quit in the event of MPs voting for a general election next month and if not he will stand down on October 31, the current Brexit deadline.

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