MPs can choose whether to have 6% or 10% of their salary paid into their pension scheme.
If they choose to pay 6%, every year of service will add one fiftieth of their final salary to their pension.
If they choose to pay 10% (which is the 'default' payment), every year of service will add one fortieth of their final salary to their pension.
An MP retiring now, after 5 years of service (and paying in 10% of his/her salary to the scheme) will receive five fortieths of his/her current salary of �64,766 as his/her annual pension. So that's an annual pension of just �8095.75.
However the MP won't start receiving that pension until they're 65. The amount is not index-linked in the interim period, so a 45-year-old MP (retiring after 5 years of service) will have to wait 20 years before getting that �8095.75 per year which, by then, will probably be worth very little.
Chris