OTTAWA, ON: The Canadian Taxpayers Federation (CTF) today released its calculations of estimated pension and severance payments paid to the 113 MPs who were either defeated or did not seek re-election in the May 2, 2011 general election. Defeated and retiring MPs will collect $4.9 million in pension payments in their first year, reaching a cumulative total of $1115 million by age 80. In addition, another $4.3 million in severance cheques will be issued to former MPs. The pension and severance calculations for individual MPs are available HERE.
