Boris Johnson pension fund
By the time Boris Johnson resigned as British Prime Minister, he received a total of £18,860. It is similar to the Pension Fund or Employees Provident Fund (EPF) in India.
The golden farewell to Boris Johnson
Boris Johnson will receive a golden farewell of £ 18,000 (called a golden employment contract, according to which the employee receives some money when a job is lost) and £ 115 thousand an annual allowance, plus the last bonus. The equivalent amount in INR is 1 crore, 62 lakh.
The money will be spent on public duties
This means Johnson will receive a quarter of the prime minister’s salary, or £75,440, for leaving office. This figure is combined with annual public service cost allowances. That is, it allows the former prime minister to claim up to £115,000 a year on his staff, office and other expenses. However, this money is only available for official and public duties.
10% of the pension can be claimed
Johnson’s predecessors, Sir John Major, Sir Tony Blair, Gordon Brown, David Cameron and Theresa May, nicknamed Sir May, have also demanded the allowance since he left Downing Street. Under this scheme, Johnson can also claim up to 10 percent of the cost of this allowance for a pension for employees who continue to work in their offices after they retire.