£88,000 !

[tonyav]

Expensive on the taxpayers.
http://www.msn.com/en-gb/news/generalelection2015/ed-balls-to-get-%C2%A388000-golden-goodbye-as-former-mps-are-handed-%C2%A3115m-taxpayer-payout/ar-BBjyKWV

[jno]

shouldn't have de-elected them, then.

[sevenOP]

Rather small fry when compared to the £5.01 trillion government pension obligation - last 'recalculated' April 2012 for year ending 2010 - which none of the Parties even mentioned during their campaigns :

http://www.ons.gov.uk/ons/dcp171766_263808.pdf

[fiction-factory]

The money includes payments to close down his office- which presumably includes things like notice/redundancy pay to his staff.
I am sure Mr Balls will be able to earn thousands of pounds a day now as an after dinner speaker or consultant