And possibly with a few extra $$$$$$$$$$ attached to it!
I did hear one pleasant rumour lately if there's any truth to it. Whereas they used to be able to start collecting at age 55 after being in office for 6 years, now they have to wait until age 65.
Always verify rumours with facts.
In this case, the rumours are partially true and that's one reason why so many CONS have bailed out..........
Under new pension rules for MPs passed in 2013, all politicians elected for the first time in the next election must wait until age 65 before they can draw a pension.
It's more complicated for MPs who have been in the House of Commons prior to January 2016. Their years of pensionable service prior to that date can be collected at age 55. Any pension they earn after January 2016 can't be drawn until they turn 65, according to the Treasury Board of Canada.
MacKay's decision not to reoffer was announced last week. He'll be able to collect his full yearly pension of $128,832 at age 55.
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Peter MacKay exit allows him to collect full pension at 55 - Nova Scotia - CBC News
Canada scores poorly among developed countries in providing public pensions to seniors, according to an internal analysis of retirement income by the federal government.
The research, compiled in a 30-page presentation deck, was created as the government came under fire from opposition parties, some provinces and retiree groups for declining to improve Canada Pension Plan or CPP payouts through higher mandatory contributions from workers and businesses.
The CPP issue has already become acrimonious in the federal election campaign, with Conservative Leader Stephen Harper saying on Aug. 11 that he is "delighted" to be making it more difficult for Ontario to launch its own version of an improved CPP. The federal Liberals are hoping to use Harper's clash with Ontario Liberal Premier Kathleen Wynne over pensions to win seniors' votes in the province and beyond.
A heavily censored copy of the internal document was obtained by CBC News under the Access to Information Act.
The review acknowledges that Canada trails most developed countries in providing public pensions, and is poised to perform even worse in future.
"Canada stands out as one of the countries with the smallest social security contributions and payroll taxes."
The Harper government since at least 2013 has resisted repeated calls to enhance CPP, saying proposed higher premiums for businesses could kill up to 70,000 jobs in an already stagnant economy. Instead, the government has promoted voluntary schemes, such as pooled pension plans for groups of businesses, as well as TFSAs.
Much of the document is blacked out under the "advice" exemption of the Access to Information Act, including a section on policy questions. The research may have underpinned a surprise announcement in late May by Finance Minister Joe Oliver that the government was considering allowing voluntary contributions by workers to their CPP accounts.
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Document raises questions about Harper retirement policies - Politics - CBC News