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The Canadian Taxpayers Federation has released what has become its traditional post-election calculations of estimated pensions and severance payments for defeated or retired MPs.

This year it includes 113 MPs, who will collect $4.9 million in pension payments in their first year and $115 million if they all reach the age of 80.

That can be added to another $4.3 million in severance cheques. Five members of that group, including three former B.C. members of the Alliance Party, will be in a life-time $3 million club, if they celebrate their 80th birthdays.

They are Keith Martin, who tops the list at $3.9 million, Chuck Strahl and retired Prince George-Peace River MP Jay Hill.

According to the CTF, Hill will get nearly $112,000 a year, and more than $3,300,000 by the age of 80.

National Research Director Derek Fildebrandt says the Federation supports a reasonable pension plan and severance package for MPs, commensurate with norms in the private sector.

However, he adds the parliamentary shakeup associated with Monday’s 41st general election is further proof that it is time to get on with bringing MP pensions and severance in line with taxpayer expectation.

The CTF is therefore challenging both the governing Conservatives and the opposition New Democrats to move forward with what it calls, “fat-cat MP pension reform.”

 

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