chicot60
05-04-2011, 02:09 AM
By Carmen Chai, Postmedia News
They may not return to Parliament Hill to serve Canadians, but some 100 MPs who are leaving Ottawa will still receive millions in severance pay from taxpayers.
Within the next year, defeated or retiring MPs will collect $4.9 million in pension payments, according to calculations by the Canadian Taxpayers Federation released Tuesday.
Derek Fildebrandt, national research chair of the non-profit group, crunched the numbers to find that about 17 former MPs are slated to receive more than $100,000 a year in pension income.
They include Liberal Peter Milliken, former Speaker of the House, who walks away from politics with $147,000 a year, and former Veteran Affairs minister Jean-Pierre Blackburn, who lost in his Quebec riding but can turn to $106,000 a year to cheer him up.
"While many MPs went down to defeat last night, most are still big winners," Fildebrandt said. "Even though losing an election can be hard, MPs should find a nice soft landing with their 'golden parachute.'"
For example, former Bloc Quebecois leader Gilles Duceppe, who resigned after his party was obliterated by the NDP, leaves Ottawa with $141,000 a year, Fildebrandt estimated.
MPs are paid a base salary of $157,000 a year, while cabinet ministers get 50 per cent more for their additional duties. Defeated or retiring MPs are eligible to collect a full pension at age 55 if they have served at least six years in the House of Commons. For every $1 an MP contributes, taxpayers are required to pay $4 under the current federal pension plan, Fildebrandt explained.
Liberal MP Todd Russell was just a month shy of qualifying for his pension after he was elected in a May 2005 by election.
"By keeping (Russell) out of Parliament, the voters of Labrador saved Canadian taxpayers almost $600,000 in pension payouts," Fildebrandt noted.
Instead, such MPs as Russell who didn't make the six-year mark will walk away with a lump-sum payment of half of what they earned.
Michael Ignatieff, who stepped down as Liberal leader a day after the party hit a historic low, also didn't sit in Ottawa for six years; it's unclear what his next move will be but he'll have $116,624 to help him out. Ignatieff earned a leader salary on top of his MP pay, which is why he takes home a larger lump sum payment.
Fildebrandt said that once MPs leave their duties, they are returned the contributions they made.
He said that about two dozen former MPs will hit $3 million in pension payments by the time they turn 80, with former Transport Minister Chuck Strahl and longtime Liberal Keith Martin topping the list.
http://www.canada.com/news/decision-canada/Ousted+will+take+home+millions+severance/4721566/story.html
They may not return to Parliament Hill to serve Canadians, but some 100 MPs who are leaving Ottawa will still receive millions in severance pay from taxpayers.
Within the next year, defeated or retiring MPs will collect $4.9 million in pension payments, according to calculations by the Canadian Taxpayers Federation released Tuesday.
Derek Fildebrandt, national research chair of the non-profit group, crunched the numbers to find that about 17 former MPs are slated to receive more than $100,000 a year in pension income.
They include Liberal Peter Milliken, former Speaker of the House, who walks away from politics with $147,000 a year, and former Veteran Affairs minister Jean-Pierre Blackburn, who lost in his Quebec riding but can turn to $106,000 a year to cheer him up.
"While many MPs went down to defeat last night, most are still big winners," Fildebrandt said. "Even though losing an election can be hard, MPs should find a nice soft landing with their 'golden parachute.'"
For example, former Bloc Quebecois leader Gilles Duceppe, who resigned after his party was obliterated by the NDP, leaves Ottawa with $141,000 a year, Fildebrandt estimated.
MPs are paid a base salary of $157,000 a year, while cabinet ministers get 50 per cent more for their additional duties. Defeated or retiring MPs are eligible to collect a full pension at age 55 if they have served at least six years in the House of Commons. For every $1 an MP contributes, taxpayers are required to pay $4 under the current federal pension plan, Fildebrandt explained.
Liberal MP Todd Russell was just a month shy of qualifying for his pension after he was elected in a May 2005 by election.
"By keeping (Russell) out of Parliament, the voters of Labrador saved Canadian taxpayers almost $600,000 in pension payouts," Fildebrandt noted.
Instead, such MPs as Russell who didn't make the six-year mark will walk away with a lump-sum payment of half of what they earned.
Michael Ignatieff, who stepped down as Liberal leader a day after the party hit a historic low, also didn't sit in Ottawa for six years; it's unclear what his next move will be but he'll have $116,624 to help him out. Ignatieff earned a leader salary on top of his MP pay, which is why he takes home a larger lump sum payment.
Fildebrandt said that once MPs leave their duties, they are returned the contributions they made.
He said that about two dozen former MPs will hit $3 million in pension payments by the time they turn 80, with former Transport Minister Chuck Strahl and longtime Liberal Keith Martin topping the list.
http://www.canada.com/news/decision-canada/Ousted+will+take+home+millions+severance/4721566/story.html