Is it true that do mps get paid when they lose their seat based on the following text?

In the UK the first 30,000 of severance pay is tax free. As stated above, the amount retiring MPs, or those who lose their seats receive, depends on how old they are and how long they have served in the House. For example, an MP who stays in office for one term (say 5 years) and then leaves office will currently receive tax-free severance pay of 50% of his current salary, or 32,383 at current rates -- equivalent to an annual salary increment of over 12,000 at current tax rates and pay scales.
yes