LETTERS TO THE EDITOR — MPs and their big pensions

Canadians shouldn’t lose too much sleep worrying about all those Members of Parliament (MPs) who were fired Oct. 25.

That’s because 73 of them instantly qualified to start collecting their gold-plated MP pensions. These 73 may have lost their jobs, but they won a cash-for-life lottery.

Former Tory MP Perrin Beatty, for example, will soon start collecting a pension of about $70,436 per year. If he lives to be 75, his total pension payout could reach $5,016,693.

Almost as bad is former MP Tom Siddon, who has a pension worth $68,068. His total payout at age 75 could be $2,923,718.

Those are just two examples of a long and sickening list.

All in all, the estimated total payout for all the defeated MPs is a staggering $109.5 million.

Clearly, one of Prime Minister Jean Chretien’s first moves should be to reform this outlandish pension plan so that it’s in line with what is available in the private sector.

Pensions for MPs should start only at age 65, and they should not have unlimited protection against inflation. After all, taxpayers are not supposed to be the ones who lose on election nights.

David Somerville, President

The National Citizens’ Coalition

Toronto