One-term legislators who lost their seats in the August 8 polls have opted to get back their pension cut of Sh5.9 million each.
Parliament opted to give them a refund. The law stipulates that those who have served for less than two terms get a refund of their contribution and annual interest of 15 per cent.
Earlier Salaries and Remuneration Commission (SRC) told MPs to choose either a Sh6.7 million end-of-term pay or a refund of their contributions.
SRC in a letter to the Parliamentary Service Commission (PSC) gave an option for gratuity or get a cut of their pension contribution.
“Each of the applicants who served one term only will receive Sh5.9 million inclusive of their personal and government contribution of equivalent as well as 15 per cent interest. The amount paid will, however, be gross of tax,” the Clerk of the National Assembly Michael Sialai said according to Business Daily.
A total of 196 ex-MPs are expected to take this cut.
For ex-lawmakers who never made it back to the 11th Parliament after March 4th 2013 general elections, they managed to walk away with both gratuity and pension.
Every month, each MP is deducted 12.75 per cent of his salary which goes to the pension fund, later matched by the state.
For those who served for two terms or more, they will walk away with Sh7 million each and a life-long pension of Sh118, 000 every month.
Ababu Namwamba, Paul Otuoma, David Musila, Billow Kerrow, Elija Langat and Gideon Mungaro are some of the long serving legislators.