Rudd to bag $600,000 a year for life

Wednesday 30 June 2010

Article by Mozo

Former prime minister Kevin Rudd is set to gain allowances of about $600,000 a year for the rest of his life when he leaves politics, it has been reported.

According to news.com.au, Mr Rudd’s term in office entitles him to superannuation, a gold air pass, a car, at least four personal staff and his own office in Brisbane for life.

While each of those perks cost tens of thousands of dollars and beyond, Mr Rudd can also expect to leave Parliament with a pension of between $118,346 and $145,987 a year, the website said.

Such a windfall may encourage the deposed PM to compare term deposits in search of a cosy retirement nest egg. It could be a worthwhile option given that Mark Ashburn, national sales manager for Professional Associations Super, recently suggested that insurance fees on super accounts are eating into Australians’ retirement savings.

Mr Rudd left The Lodge with his family for the last time yesterday (June 29th), issuing a stoic goodbye to the nation in the process.

"This has been our home for the better part of the last three years . . . our family home," he said. "It is the people’s house and we return it gratefully to the people."

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