As the reality of the election results set in, and politicians emerge from their post-election celebrations (or commiserations), the latest crop of ousted MPs are heading back to Parliament to clean out their desks. 

Labour’s Nanaia Mahuta, Michael Wood and Tāmati Coffey are among those waving goodbye to Parliament, and most of its perks. 

But amid the gloom of defeat, there’s the shining light of cushy MP exit packages. 

Flights, an exit salary and generous pension are among the benefits those leaving office are eligible to receive. 

MPs are granted three months’ salary - which would depend on their position and portfolios. 

For example, the Prime Minister receives an annual salary of $471,049, the Deputy Prime Minister gets $334,734 and the leader of the Opposition is on $296,007. 

Nanaia Mahuta. 

Other members of Parliament receive $163,961, with additional pay for those who are deputy leaders, whips or have other additional responsibilities. 

Although all departing MPs will lose their taxpayer-funded travel and accommodation subsidies, they’re given a return flight to Wellington while they clear out their offices. 

Ex-Prime Ministers are in an even better position and are given $57,000 annuity, a tax-funded car and free domestic and international travel. 

MPs also receive a generous pension, getting $2.50 for every $1 contributed. 

In the past things were more generous, and MPs who served three terms before 1999 would get free international travel, capped at the cheapest Air New Zealand business class flight to London each year and 12 domestic return flights. 

However, this perk no longer applies, as no one currently in Parliament has been around that long. 

National’s Nick Smith was the last MP entitled to what was dubbed a “gold-plated” superannuation scheme. 

At the rate at the time, he would receive about $87,000 annually for the rest of his life, just over half the current base backbencher salary of $163,961. 

Former National MP Nick Smith during his valedictory speech in Parliament, Wellington. Photo / Mark Mitchell 

Over the past decade a dozen MPs have retired on the scheme, including National’s Lockwood Smith, Bill English, Tony Ryall, Murray McCully, John Carter and Maurice Williamson; Labour MPs Lianne Dalziel, George Hawkins, Ross Robertson and Pete Hodgson; Progressives leader Jim Anderton; and United Future leader Peter Dunne.