Almost a dozen retiring MPs could see upwards of $ 130,000 per year paid out to them in their pensions , a move which could cost taxpayers $ 20 million in coming years . Eleven of 19 members of parliament who are retiring after Saturday 's NSW election , were elected before the pension reforms in 2007 and therefore qualify for the huge payouts . Former Liberal Premier Barry O'Farrell was first elected in 1995 , so he will be eligible for the pension , however former Labor Premier Nathan Rees is among the eight MPs who will miss out , The Daily Telegraph reported . Nearly a dozen retiring MPs , including former NSW Premier Barry O'Farrell have huge pensions awaiting them . Former Labor MPs Richard Amery ( left ) and Barry Collier ( right ) qualify to receive at least $ 130,000 a year . George Souris , Nationals MP will also be eligible for a large sum after more than a quarter of a century in parliament . Mr Rees will instead receive a standard superannuation scheme , akin to those other public servants are rewarded . The guidelines state that retiring members of parliament who have served a minimum of seven years , and were elected before 2007 are entitled to 48.8 per cent of the base parliamentary salary of $ 149,541 . For each month past the seven year mark , that figure rises by 0.2 per cent , meaning some MPs such as Labor 's former father of the house Richard Amery could see more than $ 150,000 a year after his 32 year service . Labor MPs Carmel Tebbutt ( left ) and Cherie Burton ( right ) will also be eligible for a large sum . Liberal MP Robyn Parker ( pictured ) qualifies for the hefty pension scheme . Former Premier Morris Iemma introduced the new reforms in 2007 , after a report revealed the extent to which taxpayers were footing the bill . Nationals MP George Souris will also be eligible for a large sum after more than a quarter of a century in parliament , as will Labor MPs Carmel Tebbutt and Cherie Burton . Other candidates from the Labor camp include Barry Collier and Barbara Perry . Liberal MP Robyn Parker qualifies for the hefty pension scheme , as does Nationals ' Andrew Stoner and Don Page , and Independent Chris Hartcher . Independent Chris Hartcher is eligible for the scheme , which was changed in 2007 to make it more modest . Former NSW deputy Premier Andrew Stoner ( left ) can look forward to a profitable pension , as can fellow Nationals MP Don Page ( right ) Between these 11 MPs the bill taxpayers may have to foot could reach $ 20 million over coming decades , taking into account the average life expectancy of Australians . However the scheme has been heavily criticised by Greens upper house member John Kaye , who described it as 'excessively generous ' . 'The old scheme was excessively generous and most people would look at it and question where the fairness is ' , Mr Kaye told The Daily Telegraph . He added that some MPs eligible for the old scheme 'clearly do n't need it ' , and asked them to watch how they spend their cash . The scheme , for which Labor MP Barbara Perry is eligible for , has been heavily criticised by Greens upper house member John Kaye .
19 of Eleven retiring NSW MPs could see pensions of at least $ 130,000 . They were elected before 2007 and therefore qualify for the huge payouts . This could cost taxpayers $ 20 million over coming decades .