The Liberal Golden Handshake...
Sixty-seven MPs were either defeated or resigned voluntarily http://www.taxpayer.com/pdf/MP_Pensions_2006.pdf prior to the January 23rd contest. But their relationship with taxpayers is far from over.
Forty-seven of these former members go straight to GO and begin collection a pension. Thirty-five hit the lottery at FREE PARKING receiving a severance payout. Fifteen lucky members manage to land on both spots.
Severance totals come to just shy of $2.7-million while first year pension benefits total a cool $3.4-million. Indexed to age 75, these 46 former politicians can expect to accumulate — wait for it — $77.5-million in pension benefits. I'm sure they're grateful. After all, taxpayers contribute over $4 for every $1 MPs put into their pension kitty.
Imagine taking a job, working for 18 months, deciding it's not for you and resigning. But wait - your employer hands you $72,150 in severance before you head out the door. Not realistic? In Ottawa it is. Despite voluntarily stepping aside, Canadian taxpayers will pay two former Bloc MPs $144,300 for their 18 months in parliamentary service dedicated to breaking up the country.