Nothing like being rewarded for a job well done. Or, in Justin Trudeau's case, bringing an entire country to the brink of losing the respect of the entire world.
Maybe that's why Trudeau is reportedly getting not one but two pensions, and a $104,000 severance, totaling more than $8 million, according to the Toronto Sun.
The Canadian Taxpayers Federation (CTF) released a chart Wednesday estimating pension and severance payouts for departing MPs.
“Pensions for former MPs depend on length of service and the rules at the time,” said CTF National Director Franco Terrazzano. “When Canadians see some of these numbers, the clear takeaway is that these political pensions are costing taxpayers too much money.”
The Sun writes that Former Prime Minister Justin Trudeau is eligible for two pensions: one for nearly 17 years as an MP and another for his 10 years as PM. Together, they’re valued at about $8.4 million. Starting at age 55, he’ll receive $141,000 annually from his MP pension, and another $73,000 a year from his PM pension when he turns 67.
“Trudeau is also going to be getting a severance just shy of $105,000,” Terrazzano added. “When we speak of leadership at the top, the first place for politicians to reign in the perks is to end the second pension for future prime ministers.”
A total of 110 former MPs qualify for either a pension, severance, or both. Those who served fewer than six years are eligible for severance worth half their salary—$104,900.
Notable names entitled to both pension and severance include Niki Ashton, Rachel Blaney, Jagmeet Singh, Seamus O’Regan, and others.
Despite being eligible, Conservative Leader Pierre Poilievre has said he will refuse his severance.
“There are 13 former MPs who will get an annual starting pension of more than $100,000, while the vast majority of private sector workers don’t even get a workplace pension,” said Terrazzano. “There definitely needs to be a culture change in Ottawa, and that has to start with our elected representatives.”
