Defeated or retiring MPs in line for sizeable pensions, severances
Published by Patrick January 25th, 2006 in Government, Treasury Board Tags: federal-government, news, Treasury Board.Things aren’t all bad for former Liberal MP Reg Alcock, after being unseated in a surprise defeat Monday night.
After 12 years, two months, and 20 days in office, the outgoing Treasury Board president will collect an estimated $83,897 in an annual pension, or approximately $6,991 per month. Manitobans also needn’t mourn for losing Independent MP Bev Desjarlais, who’ll walk away from serving the Churchill riding since June 1997 with an estimated $40,072 pension per year.
According to the Canadian Taxpayers Federation, 66 MPs who were defeated in Monday’s election or left politics before the vote stand to collect $74.6 million in pensions and severance. Four of the 66 retiring MPs, all of them Liberals, could each collect more than $3 million before they turn 75, estimates calculated by the Canadian Taxpayers Federation suggest.
Alcock rounded out the top 10 list of pension-getting ex-MPs: he’s set to receive more than $1.9 million by the time he hits the age of 75.
Read more at the Brandon Sun.