Wednesday, April 11, 2012

Harper gets $100,000 per year + his retirement allowance at 65

Pension reform is a big issue and has caused many Canadians concern, sleepless nights, and fear. Somethings are so Outrageous that they defy explanation but I am sure there is one. So when I read this in Yahoo News I thought I should share and ask why would the cons not understand how uncaring this makes them look. Maybe they don't care how it looks because they believe that with a majority they can rule Canada without regard for the voters who are struggling to meet daily expenses let alone save for retirement.

OAS eligibility changes to 67 but Harper still gets his ‘retirement allowance’ at 65

All Canadian prime ministers who served at least four years in office are given a $100,000/year allowance beginning at the age of 65. That's $100,000 in addition to their already gold-plated pensions. (emphasis mine)

On Tuesday, the Liberals tried to introduce a sub-amendment to the federal budget which would have raised the eligibility age of the prime minister's allowance to 67.
It was defeated by the Conservative majority.

The Prime Minister's new director of communications, Andrew MacDougall, told PostMedia News changes to MP pensions, including Prime Minister Stephen Harper's retirement bonus allowance, are pending in the coming months.

"There's additional changes the government is looking at that will be part of a legislative package in the fall," he said....

"We're going to consider what they're calling the prime minister's allowance in that package with all MPs and we look forward to the opposition supporting changes to the pension regime for Parliamentarians."

Facts about the allowance to former prime ministers:
- It was introduced in 1963 by former Liberal Prime Minister Lester Pearson
- The cheques, paid monthly, start coming at age 65 and are for life unless the person returns to the House of Commons or the Senate as a sitting member
- Once the former prime minister dies, a designated 'survivor' will receive one-half of the allowance each year.
- According to the Liberals, the benefit is derived from general revenues, just like OAS
- Only two current prime minister's receive the allowance: Jean Chretien and Brian Mulroney
- Here is the legislation:

48. (1) There shall be paid to every person who has held the office of Prime Minister for four years an allowance beginning on the day on which that person ceases to be a member or reaches sixty-five years of age, whichever is the later, equal to two thirds of the annual salary payable under the Salaries Act to the Prime Minister as Prime Minister on that day.

Source: By Andy Radia | Canada PoliticsWed, 4 Apr, 2012 

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