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MPs furious over Sir Ian's 1m golden handshake
Sir Ian Blair is to get a payoff worth 1 million pounds, it was revealed on Tuesday.
- Agencies
- Published: 00:01 November 12, 2008
London: Sir Ian Blair is to get a payoff worth £1 million, it was revealed on Tuesday.
He is to be paid a lump sum of £295,000 (Dh1.69 million) - the amount he would have earned if he had remained in charge of the Met until February 2010 when his contract was due to expire.
This will be topped up with £100,000, which includes perks and bonuses he could have collected as Commissioner. The bonuses are for cutting crime and boosting ethnic diversity.
Sir Ian is also entitled to a payment of £672,000 if he takes the full lump sum payment he is entitled to - four times his final salary pension of £168,000.
The deal was described by one MP as "absurd" and by another as "ridiculous". It includes a four per cent annual pay rise plus travel and accommodation allowances.
After February 2010, Sir Ian, 55, is due his index-linked pension, although if he takes the full lump sum up front this will dramatically reduce his regular pension payments.
Secret agreement
The package was agreed in secret by the Metropolitan Police Authority last week. It was approved by Mayor Boris Johnson's deputy for policing, Kit Malthouse. Sir Ian quit the Met last month after the Mayor took control of the MPA.
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