CTF Releases Pension & Severance Calculations for Defeated and Departing MPs

List of pensions and severances collected by departing MPs

Pension calculations for retired MPs from 1968 to present

Ottawa: The Canadian Taxpayers Federation (CTF) today released a list of projected pension and severance payments to be paid to 84 MPs who were either defeated in the June 28th general election or resigned prior to the vote. Canadian taxpayers will pay out $3.6-million in annual pensions to 50 retiring or defeated MPs. In addition, another $3.4-million in severance cheques will be issued to at least 51 former MPs. The pension and severance calculations for individual MPs is available by clicking here.

"Defeated and retiring members will win financially thanks to a gold-plated pension plan for parliamentarians and rich severance payments," said CTF federal director John Williamson. "Shed no tears for retiring or defeated MPs. They are being well looked after by Canadian taxpayers."

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.

The CTF does not oppose the principle of a pension plan for MPs. However, the organization has long advocated for the introduction of a matching dollar-for-dollar defined contribution pension arrangement as opposed to the current defined benefit plan where taxpayers contribute approximately $4.00 for each dollar an MP contributes.

"With the opening of a new Parliament it is time to bring MP pay and pensions in line with public expectations," concluded Williamson. "The CTF will continue to call for the replacement of the current pension plan for MPs with a matching RRSP plan for all lawmakers."