As the date of Brexit has been postponed till the October, 31 2019, it is likely that the UK will have to participate in European Parliamentary elections, which are to take place by the end of May. If this happens the UK will have 73 Members of European Parliament (MEPs) to Brussels and Strasbourg. This will enable them to take their seats on July, 2. This will also mark their commencement of salary reimbursement, in addition to and other benefits.
Since 2009, irrespective of any country, all the MEPs receive the same income of 38.5% of the basic salary of a judge at the European Court of Justice. However, the UK MEPs get extra salary for chairing committees or taking up other roles; while the other MEPs do not.
MEPs currently earn €8,757.70 (£7,599.14) a month, but after the EU tax and insurance contributions, the amount has been reduced to €6,824.85 (£5,919.37). The MEPs pay the same amount of income tax and national insurance as employed people in the UK. Their final sum of amount taken home also gets affected due to the exchange rates. This is one of the reasons why salaries usually vary every month depending upon the strength of the pound.
If the UK exits EU on October 31, the MEPs will not receive any payment in the month of November. In case of the pensions, the MEPs are entitled to receive a pension amount at the age of 63. They get a 3.5% of their total salary for a complete year of their work. In an earlier statement, the European Parliament stated that if the UK leaves Europe on October, 31, the UK MEPs will not be entitled to get any pension because they would not have served for an entire year. Thus in order to contribute to their pension pot, MEPs would need to remain in the European Parliament until at least June 2020.