Outgoing MPs get gold plated kiss-off
by investor on 17/10/08 at 2:22 pm
65 MPs who lost their seats or didn’t seek re-election walk away with $52.4 million in gold-plated pensions and rich severance packages if they live to age 75.
Among them is defeated Liberal MP Garth Turner. Turner who left the Sun in 1988 to enter politics, lost in the 1993 election where the Tories were reduced to a party of two, then ran again as Halton’s Tory candidate in 2006 and won — doesn’t qualify for a lump-sum severance package because he’s over age 55.
But he does qualify for a yearly pension of $40,663, which means if he lives to be 75, he’ll collect a whopping $773,090. Not bad for six years on the job.
The biggest payout goes to retiring NDP MP Bill Blaikie, whose pension pays him $122,224 a year, for a total of $2.7 million if he lives to 75.
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