Former MPs who have been, hovering about Parliament for handouts, have every reason to smile after a key House panel recommended that they receive Sh100,000 monthly pension.

The Finance and Planning Committee wants the 370 former lawmakers who served between 1984-2002 paid a total of Sh8.4 million as accumulated pension from July 2010.

The pension has been calculated from 2010 because that is the time Parliament debated and approved the Akiwumi report which recommended the monthly pension.

This means taxpayers will be forced to cough a staggering Sh3.1 billion as pension for former lawmakers living miserable lives..

The current monthly pension for MPs who served between 1984 and 2002 is between Sh2,700 and Sh40,000.

The Committee observed that the current pension for the MPs largely mismatched their general economic circumstances.

The number of former MPs who served during the period was estimated to be 500 but others have died, lowering the number to 370.

They will receive the money for their lifetime.