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From Where I Sit

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September 20, 2012
Dan McLean
by: Dan McLean

What's An MP's Worth?

Stephen Harper put MPs on notice this week that changes are coming to their more than generous pension plans.

The Prime Minister told them that he'll be presenting a plan to reduce the cost of the controversial benefit.

The government’s March budget is expected to include changes to public-service pension plans, likely by requiring workers to contribute more.

It will also include long-term changes to Old Age Security, like raising the age of eligibility to 67 from 65. 

The Prime Minister's message was clear: Selling these changes will require MPs to do their part.

No details were offered as to how big a hit MPs will be asked to take but currently, MPs qualify for a pension after only six years of service and the can start collecting at 55 so for example if Mr. Harper now, 52, stays in office until 2015, he will be eligible for a pension of at least $223,500 a year for life.

It has now been suggested MPs might have to wait an additional 10 years or until age 65 to dig into their pension.

And who pays the lions share of their pension. 

A recent taxpayers’ federation report claims that the taxpayer-to-MP contribution ratio is $23.30-to-$1 so members could well be asked to contribute substantially more of their own funds to their retirement.

After Mr. Harper delivered his pension message another meeting was held on how to cut MPs office budgets.

In case you didn't know a Member's Office budget for 2010 was $284,700 times 307 members.

These changes will affect how many free trips are available to MP's, their staff and family as well as how much they can spend on staff, hotels and their apartment rentals in Ottawa.

I'm Dan McLean and From Where I Sit -- the numbers are astronomical and I have to ask are we getting what we are paying for, what do you think????



From Where I Sit is on 560 CFOS Mondays, Wednesdays and Fridays 7:08 am and 5:08 pm

Posted: 2012-09-20 13:07:49

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