I fully concur with Albert Tabone in his letter ‘Pensions illusion’ (October 27).

He refers to the ‘two-thirds’ pension as an illusion and an unpalatable farce. Some figures will help.

For 2015 the maximum NI pension is €11,916 annually.This is two-thirds of €17,874, this figure being a little above government salary scale 12 now standing at €17,663.

A worker in scale 12 earning this amount will retire on a two-thirds pension.

Someone in scale seven earning €24,614 will retire on €11,916, which is 48.4 per cent of €24,614 at age 62.

A worker in scale five earning €28,420 will retire on €11,916 which is 41.92 per cent of €28,420. Such a worker will have to start looking for a job at age 62. He will certainly be unable to retire and rent a cottage in the Isle of Wight at age 64.

In conclusion, the higher the scale, the greater is the responsibility and the lower is the percentage reward.

But what about ex-MPs on pension? Do these rules apply?

A retired prime minister who is elected in two legislatures to such an office retires on a two-thirds pension calculated on the current honoraria at present augmented by 2.5 per cent annually spiced by something like €4,642 annually from the National Insurance (NI). Likewise for other parliamentary grades.

Exact figures would be provided on request by the treasury and the NI department.

The unions would have them as well.