Members of Parliament (MPs) are set to receive a salary increase of nearly £5,000, bringing their annual pay close to £100,000. The Independent Parliamentary Standards Authority (IPSA) announced on Monday that MPs’ salaries will rise to £98,599 for the 2026-27 period, up from the current £93,904.

IPSA’s decision includes a 1.5% benchmarking adjustment and a 3.5% cost-of-living increase for the upcoming year. The authority aims to gradually increase MPs’ salaries over the next three years, with projections suggesting a potential salary of around £110,000 by the end of the current parliamentary term in 2029.

Richard Lloyd, Chair of IPSA, emphasized the evolving role of MPs, citing increased casework complexity and rising abuse and intimidation towards MPs and their staff. IPSA’s decision-making process involved benchmarking MPs’ pay against comparable roles in public sectors globally and in similar democratic nations.

Lloyd stated that future pay decisions will consider economic conditions and external perspectives, in alignment with IPSA’s core principles and broader economic context. Through ongoing assessments, IPSA aims to ensure equitable pay adjustments for MPs in the coming years.