Under the scheme, MEPs are entitled to a second or additional pension when aged 63 worth over £27,500 a year after 10 years in office. For every £1 that MEPs contributed into the second pension fund, the taxpayer put in another £2.

The top-up pension comes on top of a first pension, currently worth £13,760 for five years spent in office.

In stark contrast, the average income of a British pensioner was just £11,600 in 2012.

Information quoted from an article published in the Telegraph and written by Bruno Waterfield.