Surrey MPs Sukh Dhaliwal (Liberal) and Dona Cadman (Conservative) won't get the MPs' pension because they didn't serve long enough

Rich pensions soothe MPs’ pain of defeat

Surrey's Cadman, Dhaliwal only two in B.C. who won't qualify

Nine defeated or retiring MPs from B.C. are in line to collect a combined $18.6 million in pension benefits now that they’re out of office.

Surrey’s two MPs defeated in Monday’s federal election – Conservative Dona Cadman (Surrey-North) and Liberal Sukh Dhaliwal (Newton-North Delta) – did not serve the minimum six years to qualify for what the Canadian Taxpayers Federation (CTF) calls the lucrative “fat-cat MP pensions.”

Instead those two will receive only $79,000 in severance.

But taxpayers federation national research director Derek Fildebrandt said the province’s other federal MPs turfed by voters Monday night or who chose to retire “should find a nice soft landing with their ‘golden parachute.'”

Conservative MP Gary Lunn, defeated by Green Party leader Elizabeth May in Saanich-Gulf Islands, leaves with $2.2 million in future pension entitlements.

Liberal MP Ujjal Dosanjh, defeated in Vancouver South, leaves with a pension worth $830,000.

The biggest payout will go to Liberal MP Keith Martin, who retired from his Esquimalt-Juan de Fuca seat with a pension of $3.9 million.

Conservatives Jay Hill (Prince George-Peace River) and Chuck Strahl (Chilliwack-Fraser Canyon), both retired from federal politics with $3.3 million pensions.

Tory MP John Cummins (Delta-Richmond East), who retired from federal politics to head the B.C. Conservative party, now gets a pension worth $1.33 million.

Conservative retiree Stockwell Day (Okanagan-Coquihalla) gets a package worth $1.67 million, Kootenay-Columbia Tory MP Jim Abbott retires with $1.36 million and the NDP’s Bill Siksay (Burnaby-Douglas) takes away $732,000.

All the qualifying B.C. MPs can opt to start collecting their pensions immediately.

The taxpayers federation argues the current pension system for federal politicians is too rich, contributing $4 for every dollar contributed by an MP.

It favours a dollar-for-dollar matching formula now used in Saskatchewan and Ontario.

“The vast majority of Canadians working in the private sector have no private pension plan of their own and those few who do, normally have defined-contribution, RRSP-style plans,” Fildebrandt said.

“Most Canadians have to save for their retirements the old-fashion way. MPs by contrast are guaranteed a steady payout regardless of how investments and the market perform.”

Just Posted

Kids help Alberni Aquarium build rockfish luminary for next exhibit

Swimming For Change takes over in time for spring break

Spring fishery closures mulled for south coast

Fewer fish are returning to rivers and more conservation needed, say feds

One dead, two seriously injured in Hwy 4 crash west of Port Alberni

A man has died following a single-vehicle collision west of Port Alberni… Continue reading

Risk of ‘deadly avalanches’ leads to warning for B.C.’s south coast

Weak layer of snow on Vancouver Island, Lower Mainland could trigger an avalanche

Port Alberni council looking at nearly 4% tax increase for 2019

Policing, bridge rehabilitation and impending cruise ship visits all jostling for funding

Fashion Fridays: Must have wardrobe basics

Kim XO, helps to keep you looking good on Fashion Fridays on the Black Press Media Network

Skier accidental death at Revelstoke Mountain Resort

Cause of death has not been released

National Energy Board approves Trans Mountain pipeline again

Next step includes cabinet voting on the controversial expansion

Cryptocurrency exchange CEO who suddenly died leaves Kelowna house in will

Gerald Cotten, holding the keys to money tied up in his virtual currency exchange, died in December.

Regulator’s report, coming today, unlikely to settle Trans Mountain pipeline battle

The Trans Mountain pipeline will remain a controversial topic both in the political ring and out

Australian woman killed in avalanche at Whistler

The woman and her partner were reportedly rescued by ski patrol, but she did not survive

B.C. legislature moving suspended staff controversy to outside review

Whale watching, Seattle Mariners trips billed as emergency preparedness, Speaker Darryl Plecas says

Trudeau tells Canadians to listen to clerk in SNC-Lavalin matter

Privy Council clerk Michael Wernick delivered a blunt assessment at the House of Commons justice

Mueller report looming, new attorney general in hot seat

Robert Mueller is required to produce a confidential report to pursue or decline prosecutions

Most Read