It sounds like the government is going to introduce pension reform for MPs.
The full details aren't available yet, but some of it seems to have been leaked to the press.
It all looks good at first glance, but the devil is in the details, especially if the changes have been put into place as a precursor and justification for chopping public service pensions.
One detail I have read is that the MPs will contribute more into their pensions in the future, but the government is considering giving every MP an equivalent raise in pay before the higher contributions begin..........so the taxpayers are still going to be paying the cost.
As mentioned in this article, another detail is the timeline and how the changes won't affect some current MPs with fat pensions.
Tony Clement was used as an illustration.........and I read that Finance Minister Flaherty and his wife will be receiving numerous public service pensions with benefits of hundreds of thousands of dollars a year.
F has been either a lawyer or a senior politician his entire adult life. He’s married to a lawyer who is also now a politician. F has a pension from being finance minister and MPP in Ontario, and he will have another after being finance minister and MP federally. His wife, Christine Elliott, will also have a political pension. Once F’s done in Ottawa, he’ll surely find seats on many corporate boards, and be invited as a partner into one of the larger Bay Street lawgopolies. His wife may run for premier. And win.
In short, this family is set set. F and Christine will have a household pension income in retirement of at least $310,000, indexed and never-ending.
To have any credibility, one would hope the announced changes aren't just a charade.