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Recession, What Recession?

New research from Open Europe has found that European Commissioners leaving office later this year will receive more than £1 million each in pension payments and so-called 'transitional' and 'resettlement' allowances. Long-serving Communications Commissioner Margot Wallstrom - whose main job has been to promote the EU - will receive almost £1.8 million if she leaves the Commission this year. Meanwhile, UK Commissioner Catherine Ashton, who replaced Lord Mandelson and who has been in the job for less than a year, will qualify for an ample pension of £9,600 a year, in addition to three years of 'transition' payments, valued at over £89,000 a year. On top of this, she will receive a £18,700 'resettlement' allowance. This is in addition to the salaries and perks that Commissioners are entitled to during their term of service. Commissioners receive basic salaries of at least £220,000 a year (more for Vice-Presidents and the President) - meaning that in ...