Pension for MPs should be sensible, proportional

In Summary

• MPs want to improve their pension perks including providing pensions to one-term MPs

• MPs passed a similar bill last year but President Kenyatta refused to sign it into law

MPs are making another attempt to improve their pensions.

Last year they passed a bill but it was never signed into law by President Kenyatta. At that time, they proposed that MPs who had served more than one term should get Sh180,000 per month while one-term MPs should get a payoff of Sh5.8 million.

MPs should get a pension just like everyone else in the world. But it should be calculated reasonably and proportionately. 

Firstly, MPs should not start receiving their pensions until they are retired and 65 years old.

Secondly, the pension should be based on what has been paid in. An MP who has served four terms should get four times as much as an MP who has served one term.

Thirdly, payment should be made into a pension fund in real time so that the Treasury does not accrue a massive liability. Savings will increase or decrease, just as with other pension providers.

Fourthly, there will be nothing for those who have not paid in. Let the new system start on July 1, 2023.

So let all MPs get a pension but let them pay for it, and let it be proportionate to the time served.

Quote of the day: "You cannot find peace by avoiding life."

Virginia Woolf
The English writer died on March 28, 1941

WATCH: The latest videos from the Star