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Public Sector Pensions

Rockslinger

Banned
Apr 24, 2005
32,783
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Another sign that our multiple governments is unaffordable. The pension fund for MP's is underfunded by $1 billion. I think Teachers is also underfunded. Sounds like Greece?
 

oldjones

CanBarelyRe Member
Aug 18, 2001
24,495
11
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Although, unlike teachers, the MP's pension is vested after six years. Basically after their second election. And it's indexed. But that's all because the poor dears hafta give up the best earning years of their lives, and being an MP, as we know, will hamper their prospects afterwards. At least that's why they say they need what we don't got.

And wouldn't we all be grateful if they waited until all of us were as securely provided for before they bellied up to the trough? Of course only MPs have that sorta greed in their DNA. Once upon a time the Refooorm Party, of which Harper was a member and MP, promised to do away with such gravy. But then he promised never to appoint Senators to Cabinet, never run deficits, never increase payroll taxes …, … , …

So he's got other business to take care of before he gets to that.
 

Rockslinger

Banned
Apr 24, 2005
32,783
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I do have some sympathy for MP's. Very few go into politics to get rich so I think they deserve what they make. If we reduce their benefits too much, then only independently wealthy people would enter politics and that is not a good thing either.
 

JohnLarue

Well-known member
Jan 19, 2005
16,340
2,269
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I do have some sympathy for MP's. Very few go into politics to get rich so I think they deserve what they make. If we reduce their benefits too much, then only independently wealthy people would enter politics and that is not a good thing either.
I do not know about that
Ex-Politicians have plenty of influence and business opportunities (directorships!)

Gov ts are gong to have to tighten belts world wide and they should lead by example
 

Rockslinger

Banned
Apr 24, 2005
32,783
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Ex-Politicians have plenty of influence and business opportunities (directorships!)
True for some but not all. Brian Tobin made a fortune when his company was taken over.

On the other hand, Paul Martin made his fortune (estimated to be $50 million in 1990) first before entering politics. Of course, we all know Pierre Trudeau was the son of a wealthy businessman so he didn't enter politics for the money. Alan Rock who was a Bay Street lawyer at the time took a huge paycut when he entered politics.
 
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