Why Reform Ignoble MP Pensions?
After just six years of service, MPs are eligible to receive one of the richest pensions in the country, and taxpayers are paying for it. Taxpayers contribute $24.36 for every $1 contributed by an MP into an MP’s pension account.
Unlike normal pension plans, the MP pension fund is not actually invested into the market. By cabinet order, the fund is simply credited with 10.4% annual interest, courtesy of taxpayers. So generous is the MP Pension Plan that it is not even legal under the Income Tax Act which mandates that NO registered pension plan can exceed an accrual rate of 2% of salary for each year worked.
(MPs have rigged up two funds to get around the law)
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Do any of our Gold-Digging ‘Patricians of Failure’
actually care that a Canadian Child has been cheated?