Nigel Farage will get six-figure payout when UK leaves EU - but his MEPs will get nothing

Brexit Party leader Nigel Farage poses with newly elected Brexit Party MEPs, including Annunziata Rees-Mogg, Dr David Bull (L) and Ann Widdecombe (R) at a Brexit Party event. (Photo by Peter Summers/Getty Images) 2019 Getty Images

Nigel Farage is set to pocket £150,000 when the UK leaves the European Union - but his Brexit Party MEPs will receive nothing.

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The Brexiteer will get a six-figure 'transition' payment because he has spent more than 20 years as an MEP in the European parliament.

But his 29 MEPs who were elected in June 2019 - along with 22 others in the parliament - will not receive a single penny because they have not been politicians long enough.

The Sunday Times reports that Farage is eligible for £152,000 severance pay when he stops being the MEP for South East England on January 31st.

The money is usually paid to MEPs who lose their seats when they get a new job - but the unique circumstances of Brexit means it will be issued to some politicians for losing employment as a result of the UK's departure.

As Nigel Farage already has other employment it means he is likely to be eligible straight away.

It is on top of the pension Farage will receive for 21 years of service - worth at least £100,000 - despite spending his time in the parliament trying to lose his job.

A Brexit Party source told the newspaper they did not expect MEPs to be offered any pay - but said they did not expect anyone to take the money if it was offered.

They said: "I'd be astounded if there were any severance pay. And I cannot imagine anyone in our party would have the chutzpah to take the money even if there were some, given that they got elected to stop such excess."

Farage is hoping to hold a Brexit day celebration in Parliament Square on January 31st at the cost of £100,000 - but he plans to reap back the costs back by charging invitees for attending, as well as tapping up a number of donors to help fund the event.

MORE: Nigel Farage plans a Brexit party in Parliament Square - but invitees will have to pay

A Brexit Party source added: "I'd be astounded if there were any severance pay. And I cannot imagine anyone in our party would have the chutzpah to take the money even if there were some, given that they got elected to stop such excess."