So does this mean it is still the status quo for currently serving members?
PM announces super change
The PM says he's acted immediately to scrap the generous politicians superannuation scheme. Listen to Audio
Prime Minister John Howard said the government would close down the generous parliamentary superannuation scheme for all new MPs and senators.
Mr Howard said the scheme would be replaced by one in line with community standards with taxpayers contributing nine per cent of parliamentarians' salaries instead of the current rate of about 69 per cent.
"The party room has approved a cabinet decision to legislate immediately to close down the existing commonwealth superannuation scheme for people elected at the next election," he told reporters.
Mr Howard called a special meeting of coalition MPs and senators after question time on Thursday to gain approval for the change.
It comes two days after Labor announced it would close down the parliamentary superannuation scheme if it won government at this year's election.
Currently MPs who have served at least eight years in parliament retire on an annual pension of $51,000 and the amount increases with time served and responsibility.
But Mr Howard refused to match Opposition Leader Mark Latham in giving up part of the prime ministerial pension if he won office.
