Labour MEP David Martin set for £168,000 ‘golden goodbye’ from European Parliament

David Martin MEP.

David Martin MEP.

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SCOTTISH MEPS are set to pocket “golden goodbyes” of up to £168,000 and pensions worth as much as £114,000 a year, in the wake of the Brexit vote.

All six of Scotland’s Euro politicians - Edinburgh’s David Martin, Catherine Stihler, Ian Hudghton, Alyn Smith, Ian Duncan and David Coburn - will lose their jobs after the country voted for Brexit last month.

And if Article 50, which triggers a two-year countdown for the UK to leave the EU, is invoked this year, each one of them will be out of work by the time the next European elections come around in 2019.

As recompense, the six MEPs will be eligible for taxpayer-funded severance payoffs - unless the remaining member countries rip up their contracts.

But the size and scale of these payouts, and the pensions they receive, will depend hugely on whether they signed up to a new pay and conditions package in 2009.

In the case of David Martin, £167,500 will be dished out to help him “resettle”, even though he will also be eligible to draw on a pension potentially worth as much as £114,000 a year.

Until 2009, MEPs received the same pay, pension and perks as MPs in their own countries.

However, a new system - created under a “members statute” - was introduced as part of reforms designed to give equal pay to politicians from different member states.

Under this scheme wages are paid in euros, at 38.5% of the pay of a European judge. That means our MEPs earn around £83,800 a year.

It also entitles departing MEPs to a transitional allowance - a month’s salary for every year worked, with a minimum of six months and a maximum of two years - to help them “resettle” after leaving office.

A spokeswoman for the Parliament said transitional allowances and pensions for MEPs were applicable in “normal end of service circumstances”.

But she warned: “They are likely to be subject to negotiation - the amounts of potential entitlements that MEPs will be eligible to receive are impossible to predict at this stage.”