Billboard Takes Aim At MP Pensions

The Canadian Taxpayers Federation (CTF) launched the second phase of its hugely successful billboard campaign today aimed at ensuring Canadians know just how lopsided the current MP pension scheme really is.

A billboard sporting the message “For every $1 an MP puts into their pension, taxpayers put in $24” was put up today just north of Nanaimo, joining similar billboards in Vancouver, Calgary, Regina, Ottawa and Halifax. The Nanaimo billboard can be found on Highway 19, 15 kilometres northwest of downtown Nanaimo, near Lantzville Road.

“The MP platinum pension plan is the peak of political pork,” said Jordan Bateman, the CTF’s B.C. Director. “Vancouver Island taxpayers are sick and tired of pouring money into MP pensions when their own retirement funds are shaky at best.”

The goal of the billboard campaign is to get Canadians to put pressure on their MPs, opposition leaders and the prime minister before they come out with their MP pension reform plan this fall. Canadians are encouraged to text “TAX” to 212121, so they can sign the CTF’s petition, e-mail the Prime Minister and learn more about the MP pension plan.

“We know the government is planning to modify the MP pension plan this fall, and we want to make sure it’s a full-blown overhaul and not just a minor tinker,” said CTF Federal Director, Gregory Thomas. “If they go from the current $24 from taxpayers for every $1 from an MP ratio, down to $18 to $1 or $12 to $1, that’s simply not going to cut it.”

The CTF is calling on MPs to shut down the current MP pension scheme and join a new $1 for $1 matching RRSP-style pension plan. Further, the CTF would like to see a “Lavigne rule” put in place to ensure parliamentarians convicted of offences relating to their office are barred from collecting parliamentary pension benefits.

“Many Nanaimo residents have been very concerned by federal government cuts to things like coast guard service,” said Bateman. “Ottawa’s dirty little secret is that the $900,000 a year saved by the Kitsilano coast guard station closure could be covered by the year one pension payouts for B.C.’s Conservative caucus. Instead of putting tax dollars into important services, they are going into MP pension accounts.”

In 2010-11 MPs and Senators contributed a combined $4.5 million to the parliamentary pension accounts, while taxpayers contributed $110.7 million ($26.7 million in contributions and $84 million in ‘interest’ and actuarial adjustments).