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

Juan de Fuca curlers ‘reeling’ after learning rink will be replaced with dry floor

West Shore Parks & Recreation board says curling rinks not getting enough use

The rock is no more for Oak Bay ‘Sea Lore’

Council calls for change to controversial location proposed for art installation

Five highlights in the 2019 federal budget

Latest budget includes a sprinkling of money for voters across a wide spectrum

Facebook to overhaul ad targeting to prevent discrimination

The company is also paying about $5 million to cover plaintiffs’ legal fees and other costs

B.C. mosque part of open-house effort launched in wake of New Zealand shootings

The ‘Visit a Mosque’ campaign aims to combat Islamophobia

‘That’s a load of crap’: Dog poop conspiracy spreads in White Rock

Allegation picked up steam through a Facebook page run by a city councillor

Explosives unit brought in after suspicious boxes left at B.C. RCMP detachment

Nanaimo RCMP issues all clear after packages were found on lawn earlier in the day

2019 BUDGET: As deficit grows, feds spend on job retraining, home incentives

Stronger economy last year delivered unexpected revenue bump of an extra $27.8 billion over six years

Newfoundland man caught after posting photo of himself drinking and driving

The 19-year-old took a photo of himself holding a beer bottle and cigarette while at the wheel

Carfentanil found in 15% of overdose deaths in January: B.C. coroner

Carfentanil is 100 times more powerful than illicit fentanyl and used to tranquilize elephants

Disappearance of Merritt cowboy now deemed suspicious: police

Ben Tyner was reported missing when his riderless horse was discovered on a logging road

Most Read