Parliamentary Contributory Pension Fund
Parliamentary Contributory Pension Fund
The Parliamentary Contributory Pension Fund (the Fund) is a funded, defined benefit pension scheme, where Members and the Exchequer share the costs. The Fund is made up of two schemes Ñ an MPs’ Pension Scheme and a Ministers’ Pension Scheme. The main difference between the two is that the MPs’ scheme provides pension benefits based on final salary, whereas the Ministers’ scheme provides benefits based on career average salary.