Outgoing Prime Ministers, Speakers and Lord Chancellors are paid an annuity equal to half their salary — currently between £64,000 and £94,000 — regardless of how long they have served. The money, which comes directly from the public purse, is justified on the ground that it helps to “protect the dignity of the ‘Three Great Offices of State’ and that is on top of his pension as an MP to which he will also be entitled for life.