How Much Do European Parliament Members Earn? Salaries and Pensions of MEPs
How Much Does a European Parliament Member Earn?
With the upcoming 2024 European elections, it’s interesting to delve into the topic of how much a European Parliament member earns.
Let’s take a closer look at the financial aspects of being a member of the European Parliament (MEP).
Salary Breakdown
Calculating the exact monthly earnings of MEPs can be complex.
The basic salary stands at €7,956.87 gross per month, which amounts to €6,200.72 net.
On top of this, there are allowances for general expenses, office management, telephone bills, and computer expenses, totaling €4,299 monthly.
Additionally, MEPs receive a daily allowance of €304 for each day of presence, but this amount is halved if they attend less than half of the votes.
Additional Benefits and Reimbursements
MEPs also receive travel expense reimbursements based on submitted receipts.
Those traveling by car are reimbursed €0.50 per kilometer.
Moreover, each MEP can access €2,630 monthly from the “400 funds” allocated to parliamentary groups for various activities.
In total, an MEP can earn up to €21,000 per month, excluding reimbursements and other benefits.
For comparison, in Italy, senators earn €14,634.89 per month, while deputies earn €13,971.35.
Pension and Additional Benefits
Upon the end of their term, MEPs receive a termination allowance equivalent to one month’s salary for each year served.
This allowance is not granted if the MEP holds another public office.
Additionally, MEPs benefit from reimbursed two-thirds of medical expenses and a pension that can exceed €2,700 per month on average after turning 63.
MEPs also have funds to employ a maximum of three assistants, costing up to €24,526 per month.
In 2023, the European Parliament’s cost was around €2 billion, which accounted for over 1.2% of the Union’s annual budget, considering its three locations and approximately 7,000 employees.
This financial overview sheds light on the significant remuneration and benefits tied to the role of a European Parliament member.
