I'm sure most will feel it's not enough but it's a seriously good start. I'd like to see them have to serve at least 8 years before getting any pension and then having the pension indexed to their length of service. For instance if they serve 20 years they get the full pension, 8 years they get 40%, etc.
Full text here --->
http://www.theglobeandmail.com/news/...rticle4552682/
New Tory plan would water down MPs’ lucrative pensions
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Canadian MPs will have to wait upwards of 10 years longer to start collecting their political pensions under changes the Harper government is crafting to demonstrate the Conservatives are leading by example on restraint.
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The plan would be to change the rules – beginning after the next federal election – so that MPs begin receiving their parliamentary pension at age 65 instead of 55. The Conservatives are hoping to insert all the pension changes into the second and final implementation bill for the 2012 budget.
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By 2029, changes to seniors pensions announced by the Harper government this year will mean Canadians must wait until age 67 to receive Old Age Security benefits – up from age 65. Another proposal in the works would require MPs to similarly wait until age 67 to receive their pensions – an additional change that would take effect years from now when the OAS changes kick in. It’s meeting resistance inside Tory caucus.
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That’s why the Conservative caucus is designing a new scheme that would force MPs to pay 50 per cent of the annual contribution to their pension package. These days, MP contributions represent a small fraction of what the government is contributing.
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Conservative MPs are being asked to select as a group which of three options they want: a plan where benefits accrue at 2 per cent a year, 2.5 per cent a year or 3 per cent a year. Each one would require heftier contributions from their annual take-home pay package.
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