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Economy

One-term MPs to leave with Sh18.8m in pension payoff

A section of Parliament building Nairobi taken on January 6, 2017. FILE PHOTO | DENNIS ONSONGO
A section of Parliament building Nairobi taken on January 6, 2017. FILE PHOTO | DENNIS ONSONGO |  NATION MEDIA GROUP

Each of the 196 one-term MPs who lost seats in this year’s General Election will walk away with a whopping Sh18.8 million pension payoff, highlighting the heavy burden that taxpayers will shoulder to keep them comfortable out of office.

The former MPs, including senators and members of the National Assembly, will cumulatively receive Sh3.7 billion as a golden parachute for serving a single term in Parliament.

Based on Kenya’s average monthly salary of Sh53,736, it would take 29 years to make the Sh18.8 million that each MP is set to pocket.

The Parliamentary Pensions Act stipulates that only those who serve for two terms are entitled to a Sh125,000 monthly pension for the rest of their lives.

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