Video / Mark MitchellOutgoing MP Nick Smith is entitled to a superannuation allowance of about $87,000 a year along with international travel perks after he leaves Parliament next week. Having entered Parliament prior to 1992, and serving uninterrupted, Smith is entitled to what has been dubbed a "gold-plated" superannuation scheme. Smith could also choose a lump sum - or part of a lump sum - by opting to receive no allowance or a lower allowance. Outgoing veteran National MP Nick Smith will be entitled to a superannuation payout of roughly $1 million or annual salary of about $87,000 when he leaves Parliament. On top of this allowance, Smith would also be entitled to free international travel for himself and his spouse for the rest of their lives.

Source: New Zealand Herald June 04, 2021 17:03 UTC