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

After dark: Sandown construction goes overnight

Noise concerns from Sidney could stop nighttime work schedule

Duncan family says care home switched mom’s cat with robot cat

Staff alleged to have said they were taking cat for bath, then replaced her with robotic stuffed toy

BC SPCA proposes fines for animal mistreatment, reduction in commercial trade

Animal welfare group’s ideas brought to Victoria councillors

New Victoria graving dock will offer high-paying jobs

New facility will reuse and treat any water required for repair process

Trial date delayed in case of slain Oak Bay sisters

Case of Andrew Berry, charged in deaths of daughters, will reconvene in three weeks

B.C. Games open with Olympic touch

The 2018 B.C. Winter Games kicked off in Kamloops

Suspect and Mountie bitten by police dog during arrest near Nanaimo

Two suspects were arrested in connection with a stolen pickup truck in Cassidy on Thursday evening

B.C. ski cross racer wins Olympic gold

Kelowna’s Kelsey Serwa wins the gold medal in thrilling fashion in PyeongChang

All aboard! Job fair ports this weekend in Victoria

Find out about the hundreds of jobs in Victoria’s cruise ship industry

New charges against ex-Trump campaign associates

More charges were laid Thursday against President Donald Trump’s former campaign chairman and his business associate

Sooke mom hopeful for funding to treat child’s debilitating arthritis

Jillian Lanthier ‘prays’ for $19,000 per-dose drug for her son

Man accused in death of Winnipeg teen Tina Fontaine not guilty

Raymond Cormier was accused of killing Indigenous 15-year-old and dumping her body in the Red River

Saanich steps up recreation registration

Saanich has unveiled its new parks and recreation registration and facility booking system

Okanagan real estate agents brace for speculation tax impact

“There’s a real potential for a domino effect to hurt the market in Kelowna.”

Most Read