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How much does a retired Prime Minister earn?

You may as well ask: how long is a piece of string because there’s no definite answer to the question: how much does a retired Prime Minister earn? They earn a pension from their former position but most of them trade on their former role to earn far more money than they get from the annuity.
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Pension

No matter whether a PM has served a long time or for a short while, they all earn the same pension. At the moment this stands at 50% of the PM’s salary of £194,250. That means that every former Prime Minister can expect at least £97,125 per year. Given the fact that PMs rarely stop at retirement age, that guaranteed annual income can really mount up for us poor tax payers. Imagine the sort of bill attached to a former PM who is kicked out of office in his mid-forties and lives for another 45 years. In that very likely scenario the tax payer would be paying £4.3 million out to one individual. Thankfully the government sees some of that money back as it is subject to income tax. The government have promised to reform this system but there’s no evidence that they’re actually do anything right now.

Tony Blair

We’re singling out the former PM Tony Blair because he’s someone who continues to trade on his past. This guy, who’s been out of office since 2007, earned £20 million in 2015. That’s from “government advisory work”, after dinner speaking and consultancy. According to reports he also get £250,000 from the government to help pay for security so this guy’s costing the tax payer close to £400,000 per year when you combine the security, pension and advisory payments made to him.

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