Remuneration and allowances indexation for members of parliament introduced, with periodic cost-inflation adjustments and altered travel reimbursements. The Bill amends the Act to increase members' basic salary and to provide that salary and daily allowance shall be increased every five years from 1 April 2023 based on the Cost Inflation Index; it omits clause (a) of section 4 and alters clauses (b) and (c) to limit travelling reimbursement to a single air fare and a single steamer fare respectively; it raises base pension and per-year additional pension for service beyond five years and provides five-year indexation of pensions from 1 April 2023; and it removes a 2006 amendment reference in section 8AC to prevent retrospective interpretive confusion from 15 September 2006.
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Remuneration and allowances indexation for members of parliament introduced, with periodic cost-inflation adjustments and altered travel reimbursements.
The Bill amends the Act to increase members' basic salary and to provide that salary and daily allowance shall be increased every five years from 1 April 2023 based on the Cost Inflation Index; it omits clause (a) of section 4 and alters clauses (b) and (c) to limit travelling reimbursement to a single air fare and a single steamer fare respectively; it raises base pension and per-year additional pension for service beyond five years and provides five-year indexation of pensions from 1 April 2023; and it removes a 2006 amendment reference in section 8AC to prevent retrospective interpretive confusion from 15 September 2006.
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