EU COMMISSIONERS ON LEAVING OFFICE

Upon leaving office, a Commissoner is entitled to a resettlement allowance of one month's basic salary (about € 20,000) and of course, travel expenses and moving costs are fully reimbursed.

In addition a transitional allowance is paid for three years, beginning on the day after leaving office. This allowance is between 40% and 65% of the final basic salary (between € 8,000 and € 13,000, depending on the length of service. This allowance is subject to European Union tax. Let's take as a base an average allowance of say  € 10,000/month. This equates to € 120,000 per year x 3= € 360,000.

The transitional allowance is capped. If the former Commissioner takes up any new gainful activity, the amount of the new job's salary, added together with the allowance, cannot exceed the remuneration as a member of the Commission (€ 240,000). This means that the former Commissioner can take up any new job that pays € 120,000 per year.

Former Commissioners are entitled to a life pension, payable from the age 65. The pension is subject to European Union tax. Pension rights depend on the length of a Commissioner's term in office. The amount of the pension is calculated at 4.275 % of the basic salary for every full year in office. The pension may not exceed 70% of the final basic salary.