Think tank calls for MP pay raises
Posted January 19, 2012 9:31 am.
This article is more than 5 years old.
VANCOUVER (NEWS1130) – A prominent think tank says our MPs should get a raise (Yes, you read that correctly!). But the proposed hike would be in exchange for a more modest pension plan.
The CD Howe Institute warns the kitty from which MP pensions are drawn could be underfunded by up to $1 billion. That same account provides our parliamentarians with more than half of their six-figure salaries, but it has next to nothing set aside for future benefits.
The shortfall could have taxpayers on the hook for even more risk, should that pension plan fail. That’s why the Institute wants Ottawa to look at hiking MP salaries while lowering those infamous pension payouts.
This comes a day after the Canadian Taxpayers Federation called for a reform to the pension system, pointing out Canadians will shell out nearly $31,000,000 to fund the golden years of the 39 MPs who were first elected in the 2006 election.
