The perks of being a newly elected European Parliament member are numerous. From hefty salaries to generous allowances and even post-employment benefits, MEPs are well compensated for their service. In addition to their monthly salary of €10,337, MEPs also receive a monthly expenditure allowance of €4,950 to cover office costs in their home constituency. They are also entitled to a daily allowance of €350 per day when attending sessions in Brussels or Strasbourg.
Furthermore, MEPs are allowed to have side jobs, with two-thirds of them taking advantage of this opportunity. This can provide additional income, with some MEPs earning as much as €12,000 extra per year from outside sources. Additionally, MEPs continue to receive a golden parachute allowance even after they leave office, which can be worth as much as their monthly salary depending on their length of service. They also qualify for a pension when they turn 63.
In terms of travel expenses, MEPs are reimbursed for travel to and from the European Parliament, which can include business-class air travel, first-class rail, or car journeys. Additionally, they can claim up to €4,886 a year for travel and accommodation when visiting other EU countries outside official Parliament meetings. MEPs can also hire three to four assistants to help with administrative and policy work, with a budget allocation of €29,557 per month for their salaries and associated costs.
Despite the generous perks that come with being an MEP, there have been instances of controversy surrounding expenses and outside earnings. Some MEPs have been accused of misusing public funds, such as using taxpayer-funded travel expenses to avoid legal repercussions. Additionally, there are concerns about potential conflicts of interest when MEPs have outside jobs that involve lobbying on EU policy issues. Transparency International found that MEPs collectively earned €8.6 million per year from side jobs, raising questions about the ethics of these arrangements.
Overall, being an MEP comes with a range of financial benefits and perks that can be lucrative for those who hold the position. From high salaries to generous allowances and opportunities for additional income, MEPs are well compensated for their service. However, concerns about transparency and potential conflicts of interest highlight the need for greater accountability and oversight within the European Parliament.
