The Parliamentary Contributory Pension Fund (PCPF) is a fully funded pension scheme whose income is derived from member contributions, Exchequer contributions and income from assets held.
Gross pension expenditure of the PCPF for the last five years is shown as follows. It includes pension benefits paid, payments to and on account of leavers, administrative expenses and investment management expenses. The figures for 2007-08 are provisional as the accounts for the year have not been finalised and are subject to change.
£ million 2003-04 12.1 2004-05 12.2 2005-06 19.2 2006-07 16.6 2007-08 15.6
The contributions made to the PCPF by hon. Members from salary, including additional contributions for added years, and by the Exchequer from the House of Commons Members Estimate in each of the last five years are shown as follows.
Employee contribution Exchequer contribution 2003-04 3.6 9.8 2004-05 4.0 10.0 2005-06 4.1 10.1 2006-07 4.2 11.4 2007-08 4.3 12