Former Greens leader Adam Bandt to enjoy more than $157,000 a year from a taxpayer-funded pension

Despite a bruising election loss Adam Bandt has plenty of reasons to smile, with the former Greens leader set to reap a massive taxpayer-funded pension.

Former Greens leader Adam Bandt will reap more than $157,000 a year from a taxpayer-funded pension.

Mr Bandt reluctantly conceded defeat to Labor candidate Sarah Witty in the long-held Greens seat of Melbourne last week.

The bruising loss comes after 15 years in the parliament and prompted figures from both major parties, prominent Jews and anti-Semitism victims to declare he had “paid the price” for the minor party stoking “division and hatred” in the wake of the October 7 attacks.

Mr Bandt was elected to represent the electorate of Melbourne in 2010 and served as the Greens leader for five years, after taking over from Richard Di Natale in 2020.

Under the parliamentary pension scheme, he is entitled to receive about $157,000 a year from 2027 when he turns 55 years old.

Former Greens leader Adam Bandt will receive a $157,000 a year pension when he turns 55. Picture: David Crosling

The pension rate is 50 per cent of a politician’s base salary, which is now $233,660 annually, plus 2.5 per cent of the allowance for every additional year of service.

MPs are entitled to a lifetime pension or a lump sum depending on their length of service.

The amount is less than the $338,782 a year he was on, after the independent Remuneration Tribunal approved a 3.5 per cent pay rise for politicians from July last year.

But Australian Taxpayers’ Alliance President Brian Marlow said while everyday Australians were tightening their belts, Mr Bandt would soon be getting more than double the average full-time wage.

“This is the same politician who rails against privilege, inequality, and the so-called ‘rich’ while pocketing a lifetime pension courtesy of hardworking taxpayers,” Mr Marlow said.

“It’s peak hypocrisy, and it’s no wonder Aussies are fed up with the political class looking after themselves while the rest of us struggle to make ends meet.”

Mr Bandt with his wife Claudia. Picture: David Crosling

The Greens party room will meet on Thursday to determine who will replace Mr Bandt as leader.

SA Senator Sarah Hanson-Young and NSW Senator Mehreen Faruqi are tipped to run for the top job, with Queensland Senator Larissa Waters also encouraged to contest.

Senator Nick McKim is acting in the role during caretaker. He and NSW Senator David Shoebridge have themselves out of the race, with Senator Shoebridge saying it was “time for a woman” to lead.

The minor party only retained one of its four lower house seats, Ryan in Queensland, at the federal poll.

Originally published as Former Greens leader Adam Bandt to enjoy more than $157,000 a year from a taxpayer-funded pension