I don't like number two.
Perhaps the payments should be smaller , but spending a decade or so earning no pention payments might deter the less wealthy from seeking the office.
Old Europe used to pay nothing at all to certain officials , which the official would accept graciously and call the situation "service " or even "noblesse oblige ".
The result of giveing important offices to people who do not need to be paid for their time , is that only the wealthy can hold the position.
