CTF says Richard Neufeld tops pension benefits list

Senator Richard Neufeld tops the list for potential pension benefits.

CTF’s Maureen Bader said Neufeld can expect to receive a pension payout of around 1.3 million dollars to age 80.

This money is all paid for by B.C. taxpayers, according to the Canadian Taxpayers Federation. Neufeld, the former Minister of Energy, Mines and Petroleum Resources, resigned as the North Peace MLA after being appointed to the Canadian Senate by Prime Minister Stephen Harper in December 2008.

The 19 British Columbian MLAs who quit, retired or were defeated in Tuesday’s election are due to receive around 8.8 million dollars in severance payouts and retirement benefits. Bader said in all, there are 7 million dollars in potential retirement benefits for 10 ex-MLAs and 1.8 million dollars in severance payouts for all 19.

Bader said 14 BC Liberal MLAs, including seven former ministers, are entitled to the perks, along with five former NDP MLAs. Bader said MLAs were getting $2.40 from taxpayers who paid into the pension funds, for every dollar they contributed themselves.

This form of pension plan, which kicks in after an MLA serves for six years, was reinstated in 2007 after being out of favor for many years.

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