Taxpayers Paying $18 into MLA Pension Plan for Every $1 Paid by MLAs

Posted by artinusa on Sunday, August 30, 2015
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Taxpayers Paying $18 into MLA Pension Plan for Every $1 Paid by MLAs

Taxpayers Paying $18 into MLA Pension Plan for Every $1 Paid by MLAs
HALIFAX, NS: The Canadian Taxpayers Federation (CTF) has crunched the numbers on the MLA pension plan and notwithstanding two independent reviews and reforms in 2011 and 2014, MLA pensions remain a rich golden parachute. Last year, for every $1 contributed by politicians to their pensions, taxpayers contributed $18. That is down slightly from 2010 when the contribution ratio was $22 to $1.
“It’s time for our politicians to do the right thing and scrap this rich pension scheme once and for all,” said Kevin Lacey, Atlantic Director with the Canadian Taxpayers Federation (CTF). “The province is broke. Yet, our politicians are accepting this fat pension plan while asking Nova Scotians to accept cuts in services and higher taxes,”
In 2014-15 alone, MLA pensions cost taxpayers $10.4 million.
The calculations on the MLA pension plan come from the “Financial Statements of Members Retiring Allowances Plan And Members Supplementary Retiring Allowances Plan” released by the Nova Scotia Pension Agency.
You can get a copy of the Financial Statements of the MLA Plan HERE
Particulars as to how much each individual MLA is entitled to as of December 31st, 2013 can be found HERE
To see how the $18 to $1 ratio was calculated, you can find more information HERE
A copy of the CTF’s report on MLA pensions from 2010 can be found HERE

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