Ex-ministers and MP's receive pensions while employed Skip to content

Ex-ministers and MP’s receive pensions while employed

By Iceland Review

Nine former ministers receive retirement benefits even though they are currently employed in other governmental positions reports television station Stöd 2. According to Stöd 2 the Budget Committee of Parliament, Althingi, will investigate why retirement payments to MPs, ministers and high ranking government officials are ISK 250 million over budget.

Last year, Althingi passed a law on retirement benefits for the highest ranking officials including the president, ministers, MPs and supreme court judges. It is now evident that the treasury’s pension expenses are much higher than previously estimated reports Stöd 2.

Helgi Hjörvar, MP for the Social Democrats, requested that the Budget Committee investigate the matter. According to Stöd 2, Helgi said it was serious when pension payments are many hundred of million Icelandic kronur above the estimated cost figures introduced when the bill was passed in Althingi last year.

Representatives from the Ministry of Finance will be called to meet with the Budget Committee of Althingi to explain why costs are exceeding the budget.

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