Kim Beazley gets plush pension top up with new role

Kim Beazley was appointed Western Australia’s new governor last week and the perks are already rolling in for the former Labor leader.

The Australian reports that under his new role, Beazley is entitled to $100,000 per year from his parliamentary pension on top of his whopping $450,000 salary as governor.

According to the paper, Department of Finance rules allow former MPs to receive up to 50 per cent of their parliamentary pension at the same time as holding an “office of profit”.

This puts Beazley’s annual income well over half-a-million dollars, not including the numerous perks and freebies that come with his new role.

As governor, Beazley will live at Perth’s Government House, a lavish estate that boasts 41 bedrooms, a ballroom and sprawling aches of gardens and well-maintained grounds.

He’ll also be awarded a car for personal use, 10 per cent of his salary on retirement, 24 full-time staff and an annual budget of $5.4 million.

Beazley’s appointment to the role, came as somewhat of a surprise given his staunch support for the Republic movement in the past. The governor is appointed to represent the Queen, but Beazley has made no secret of his desire to break away from the Monarchy.

However, upon receiving his new title, the politician said he would leave his personal beliefs at the door and serve the Queen with pride.

“Twice the Australian people have had an opportunity to choose what sort of system that wanted, and they’ve decided they will leave the constitutional monarchy at the centre of it,” he said

“I’m not only a republican, I’m also a democrat. And I respect he democratic process.”

He also called the role his most “daunting” job to date — an interesting choice of words considering he was previously deputy prime minister and Australia’s ambassador to the US.

“It’s daunting, it’s overwhelming, which is I suppose an odd thing to say for someone who has been in public life for as long as I have,” he said.

“But I am finding this at least as heavy as any of the challenges that I’ve faced to this point.

He added that the governor has “immense responsibilities and no power”.

While the governor’s role does not include any political power per se, they are still heavily involved in state and federal affairs.

The governor signs and approves Treasury authorities to determine how funds will be used to run the state, and a vote, resolution or Bill for the spending of public money cannot be passed unless the governor sends a message to the Legislative Assembly recommending it.

In Western Australia, as in other states, all Bills passed by Parliament require the governor’s signature before they become law.

The rest of Beazley’s hours will be filled with ceremonial affairs and community events, until he officially kicks into retirement and enjoys his full parliamentary pension, a lifetime of free domestic travel and plenty of other perks.

Would you like to spend a day in Beazley’s shoes if you got these perks? Do you think politicians’ pension is fair?

IMPORTANT LEGAL INFO This article is of a general nature and FYI only, because it doesn’t take into account your financial or legal situation, objectives or needs. That means it’s not financial product or legal advice and shouldn’t be relied upon as if it is. Before making a financial or legal decision, you should work out if the info is appropriate for your situation and get independent, licensed financial services or legal advice.