Political pensions: outcry over generous handouts to retiring federal MPs

Most retiring pollies will be on $118,000 a year - but Bronwyn Bishop will be on more than double that.

Perth residents are unanimous – retiring politicians are paid far too much in pensions.

The maximum basic rate for an aged pension in Australia is $20,664.80 per year for singles.

MPs who’ve decided not to re-contest the July 2 federal election will be awarded a minimum of $118,125 per year after retirement, and many Australians think that is too much.

But with Bronwyn Bishop set to reap more than double that amount on account of bonuses for time served as a minister or office holder, people are up in arms.

WestTV took to the streets of Perth to get some thoughts.