Macca to retire on at least $150,000 pension
IAN Macfarlane is set for a happy retirement with the long-standing Member for Groom to get between $150,000 and $200,000 yearly as his pension.
He will be paid the money under the Parliamentary Contributory Superannuation Scheme.
Membership in the scheme is compulsory for all parliamentarians who entered Parliament before October 9, 2004 and is costing taxpayers more than $40 million a year.
The controversial scheme was superseded by the Parliamentary Superannuation Act 2004 due to concerns that it was too generous.
Mr Macfarlane entered Parliament in 1998 and has served for 18 years which entitles him to 75% of the parliamentary allowance.
Most retiring MPs will be paid at least $118,125 a year, a percentage of their base wage of $157,500.
But Mr Macfarlane, a long-serving minister, will get more because of the period he held a ministerial office.
Members are entitled to a lifetime pension or a lump sum depending on their length of service.
When Mr Macfarlane dies his pension can be paid to an eligible spouse.
The long-serving politician has said he will retire at the next election.
Member for Toowoomba South John McVeigh is looking to take over his seat and has nominated for pre-selection for Groom.
Toowoomba doctor and anti-marriage equality campaigner David van Gend has also nominated.
Mr Macfarlane was contacted for comment.