Tuesday, January 13, 2009

Bill Casey Pension Entitlement of $97,743.40

Bill Casey has announced he won't run again. He has said he may even retire some time in 2009.

The CTF has calculated his MP pension entitlement should he serve out all of 2009.

He would be immediately entitled to receive $97,743.40 in his first year of pension entitlement.

Yikes! MP pensions sure are lucrative. Serve for six years, accrue 3% a year based on the average of the highest five years of earnings and be entitled to get it at age 55.

Not many private sector or even public sector plans come close to this kind of generosity. No wonder so many people clamour to win nominations to win a seat in Parliament.

Talk about the need for MP pension reform!

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