Pensions for B.C. politicans are calculated by taking the highest earning years of the retiring MLAs and factoring in their years of work. (Pixabay.com)

16 MLAs retiring from B.C. politics add up to $20M in pensions: Taxpayers Federation

Taxpayers pay $4 for every dollar MLAs contribute to their pensions

As a number of provincial politicians have bowed out of running for re-election ahead of Oct. 24, a national tax reform advocacy group is highlighting the cost of political retirement– to the tune of $20 million – with taxpayers footing the bill.

“While we thank these retiring politicians for their work, taxpayers need to know the huge cost of these gold-plated pensions,” said Kris Sims, B.C. director of the Canadian Taxpayers Federation.

“These pensions simply aren’t affordable for taxpayers. MLAs need to reform their pension plan.”

According to the government, MLA pensions are calculated by taking the highest earning years of the retiring MLAs and factoring in their years of work. The annual pension payments are capped at 70 per cent of the highest earning years.

That means that for every $1 the politicians contribute to their own pension plans, taxpayers pay $4, Sims said.

“It’s time to end these rich pension schemes,” said Sims, adding that MLAs not seeking re-election are allowed to collect the equivalent of their salaries for up to 15 months while they look for new jobs, and they get up to $9,000 if they need skills training.

The federation calculated the expected pensions for 16 retiring MLAs, and determined that former house speaker and BC Liberal MLA Linda Reid is expected to collect the highest per-year amount, roughly $107,000 annually when she turns 65 years old.

Reid, who represented the Richmond South Centre since 1991, is the longest-serving woman in B.C.’s government history.

Other estimated pension totals for MLAs include:

  • Tracy Redies, B.C. Liberal MLA – ineligible due to less than six years in office.
  • Claire Trevena, NDP cabinet minister – estimated $80,000 per year, $1.9 million lifetime.
  • Shane Simpson, NDP cabinet minister – estimated $80,000 per year, $1.9 million lifetime.
  • Scott Fraser, NDP cabinet minister – estimated $80,000 per year, $1.9 million lifetime.
  • Carole James, NDP cabinet minister – estimated $82,000 per year, $2 million lifetime.
  • Michelle Mungall, NDP cabinet minister – estimated $58,000 per year, $1.4 million lifetime.
  • Judy Darcy, NDP cabinet minister – estimated $37,000 per year, $647,000 lifetime.
  • Doug Donaldson, NDP cabinet minister – estimated $58,000 per year, $1.4 million lifetime.
  • Rich Coleman, former B.C. Liberal cabinet minister – estimated $109,000 per year, $2.6 million lifetime.
  • John Yap, former B.C. Liberal cabinet minister – estimated $65,000 per year, $1.5 million lifetime
  • Darryl Plecas, Independent Speaker – estimated $38,000 per year, $714,000 lifetime.
  • Andrew Weaver, former Green Party Leader – estimated $31,000 per year, $764,000 lifetime.
  • Donna Barnett, B.C. Liberal MLA – estimated $46,000 per year, $400,000 lifetime.
  • Linda Larson – B.C. Liberal MLA – estimated $29,000 per year, $469,000 lifetime.
  • Ralph Sultan, former B.C. Liberal MLA – estimated $74,000 per year.
  • Linda Reid, former B.C. Liberal Speaker – estimated $107,000 per year, $2.6 million lifetime.

@ashwadhwani
ashley.wadhwani@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Want to support local journalism? Make a donation here.

BC politics

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Marlene King and her granddaughter KK with the bench she installed in memory of her late husband, artist Marven Tallio (Caitlin Thompson photo).
New downtown bench honours late Nuxalk artist

Renowned Nuxalk artist Marven Tallio passed away in 2018

BC Liberal Party candidate for the North Coast Roy Jones Jr. will hold virtual face-to-face meetings for North Coast communities on Oct. 18. (Photo: K-J Millar/The Northern View)
BC Liberal Candidate Roy Jones Jr, will meet constituents virtually

Face to face conversations will be held on Oct. 18 for North Coast communities

The rockslide occurred just east of Firvale before Snowshoe Creek (photo submitted)
Heavy rain causes mud, debris on Highway 20

Environment Canada had issued a rainfall warning on Thursday morning

Provincial health officer Dr. Bonnie Henry presents modelling of COVID-19 spread in B.C., March 25, 2020. (B.C. government photo)
B.C. sets another COVID-19 record with 203 new cases

up to 1,766 active cases in B.C., two more deaths

RCMP. (Phil McLachlan - Black Press Media)
British Columbia man dies during ski trip near glacier west of Calgary

Kananaskis Public Safety and Alpine Helicopters responded around 2:30 p.m.

Prime Minister Justin Trudeau arrives on Parliament Hill in Ottawa on Monday, Oct. 19, 2020, following a week-long break for the House of Commons. THE CANADIAN PRESS/Sean Kilpatrick
One crisis after another for Trudeau since last federal election one year ago

It has been a year of unprecedented calamity and crisis

Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

Rio Tinto Alcan’s aluminum smelter at Kitimat competes against producers in the Middle East and Russia that have no carbon tax. (Rio Tinto)
B.C. carbon tax highest in Canada, export industries unprotected

B.C. NDP, B.C. Liberals say they’re looking at exemptions

(Pixabay)
Vancouver teacher suspended after swearing, touching students and complimenting underwear

McCabe touched students, including rubbing their backs and necks, touching their hair and hugging them

A glimpse of some of the 480 (approx) cars written off as a result of the acid spills along the Trail highway in 2018. Photo: Trail Times
2 years after huge highway acid spill, Kootenay Ford dealer’s frustration grows with ICBC

Trail AM Ford owner Dan Ashman says he just wants fair compensation from ICBC

Most Read