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

Environment Canada has issued a snow warning for the Kootenays on Friday. File photo
Environment Canada issues snow warning for Friday

Two-to-10 centimetres is expected to fall

File photo
EDITORIAL: The power of a single vote

In the Oct. 24 British Columbia election, every vote is important

RCMP stock photo (Black Press)
Kelowna RCMP investigating unexplained death of cattle

Cattle found dead near gravel road, east of the Kelowna Airport

The Freeride World Tour will be back in Golden for the fourth year in a row, with athletes coming from across the world to ski at Kicking Horse. (Jeremy Bernard Photography/Kicking Horse Mountain Resort/Instagram photo)
Freeride World Tour to return to Golden

The tour will have a modified championship format in it’s fourth annual stop at Kicking Horse

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

(Kelowna Capital News)
B.C. Labour Board orders Peachland cannabis company to reinstate laid-off employees

The B.C. Labour Relations Board determined the employees were laid off due to their plan to unionize

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

Curtis Sagmoen
Public warning issued to North Okanagan sex trade workers

RCMP warns workers to stay away from Salmon River Road area

Two pigs roam the Salmon Arm Walmart parking lot during a prior visit photographed by Danielle Burgi. (Danielle Burgi photo)
Pigs trot over for a visit at Salmon Arm shopping centre

Employees say this was the second drop-in from the temporarily free-range porkers

Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

Penticton law courts. (Black Press file)
Osoyoos man in court for alleged shooting

The Oct. 11 shooting left a man with non-life threatening injuries

Most Read