Former Malpeque MP Wayne Easter among four MPs to get over $ 100,000 in annual pensions
Wayne Easter is heading into retirement with nearly $ 138,400 in annual pension payments, according to Canadian Taxpayers Federation (CFF) estimates.
The former Liberal MP for Malpeque was one of four MPs to receive more than $ 100,000 in pensions, paid for by Canadian taxpayers, after the results of the recent federal election. Using the CTF estimate, if Easter lived to be 90, he would receive $ 2,805,800.
Easter said the CTF was “reasonably close” but offered no further clarification. He told the Guardian on September 27 that he had no qualms about taking it and believed it was the job of MPs.
“I don’t care what party you’re with, 95 percent of MPs work very, very, very hard. Yes, they have to go to work, but they work long hours, long days, seven days a week. ”
Easter said salaries are necessary to ensure quality candidates take on the role.
“I think we have a really good list here, but with the amount of abuse on social media now, it’s going to be harder and harder to get people to come forward. These are the people who represent us.
The Canadian Taxpayers Federation releases its estimates of pensions and severance pay after each election to shed light on what it sees as something unfair when most Canadians do not receive employer pensions, said Franco Terrazzano, Federal Director of the Canadian Taxpayers Federation.
“I think if Canadians look at these numbers then taxpayers won’t feel too bad for losing politicians because they will either be handed a big starting check or a big pension payment.”
Calculation of pensions and severance pay for parliamentarians:
- Members of Parliament who serve less than six years or who are not entitled to a pension immediately receive severance pay, calculated at half of their salary.
- Pensions are accrued at three percent each year up to a maximum of 75 percent of the average of the best five years of earnings, with a full pension from age 65 or a reduced pension at age 55.
Between the ongoing pandemic that still affects the lives and livelihoods of so many across the country, Terrazzano believes politicians are out of touch with the reality these Canadians live in, he said.
“Right now is probably the perfect time for politicians to show leadership and actually reform their compensation and benefits and make them fair and affordable for taxpayers.”
The press release indicates that the reform should include the transition of current pension plans to an equivalent RRSP-type pension and the cancellation of salary increases in the event of a pandemic.
Estimates of severance pay or pension for former members of Parliament from Atlantic Canada:
- Geoff Regan (Halifax West, NS) – Annual severance pension of $ 147,400.
- Wayne Easter (Malpeque, PEI) – Annual severance pension of $ 138,400.
- Scott Simms (Coast of Bays-Central-Notre Dame, NL) – Annual severance pension of $ 89,900.
- Jack Harris (St. John’s East, NL) – Annual severance pension of $ 43,400.
- Bernadette Jordan (South Shore-St. Margarets, NS) – Compensation of $ 137,250.
- Pat Finnigan (Miramichi-Grand Lake, NB) – Compensation of $ 92,900.
- Lenore Zann (Cumberland-Colchester, NS) – Compensation of $ 92,900.
Source: Canadian Taxpayers Federation
MPs have received two annual salary increases since March 2020.
When asked if this was a good idea when many relied solely on CERB payments, Easter reiterated the need for quality people in roles.
“Others in society get their annual raise and so, you know what, if you don’t want politicians then don’t. I don’t take care of that. I think, pay people – I don’t care what job you do – pay people as well as you can, and you’ll get better people.