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06/29/2004 Archived Entry: "They're still going to cost you"

Posted by steve @ 04:09 PM EST [Link]

THEY'RE STILL GOING TO COST YOU: If you're the compassionate soul that I am, doubtless you're worrying about all of those defeated or resigned MPs. What are they going to do with the rest of their lives? How will they make ends meet?

Fear not, this is Canada!

The Canadian Taxpayers Federation released a study today which calculated "projected pension and severance payments to be paid to 83 MPs who were either defeated in the June 28th general election or resigned prior to the vote. Canadian taxpayers will pay out $3.5 million in annual pensions to 50 retiring or defeated MPs. In addition, another $2.5-million in severance cheques will be issued to at least 39 former MPs."

Defeated or retiring MPs who are eligible for a pension but have not reached the age of 55 are also entitled to receive severance equal to one month for every year served to a maximum of six months of 2004 member indemnity. Severance payments range from a low of $11,800 and a high of $70,500.

The biggest pension winners include Liberal MP Rey Pagtakhan at $105,868, NDP Lorne Nystrom and Liberal Guy St-Julien each at $86,663, and Liberal André Harvey at $80,307. Meanwhile Liberal Susan Whelan will collect $76,577 each year, and Liberal Robert Speller will receive $72,271.

Top pensions going to retired MPs include former Prime Ministers Jean Chrétien and Joe Clark. Mr. Chrétien will collect $154,179 a year and Mr. Clark will collect $111,030. Former Cabinet members Sheila Copps and David Collenette will each collect $119,869 whereas John Manley, Robert Nault and Lyle Vanclief will each receive $105,868. Mrs. Copps and Messrs. Manley and Nault are also each entitled to a severance cheque totalling $70,500.

It's good to be the king.

You can read the entire list here. (PDF format)