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Local Tory MP welcomes changes to his own pension plan
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ing MPs can collect that pension and how much they will have to contribute to the fund itself. Right now retiring MPs are eligible to col- lect their federal pensions at age 55 after they step down from office. One change to the plan would make 65 the age when an MP can collect but not until he or she is out of office. If the federal government goes ahead with plans to increase the eli- gible age for Old Age Security to 67 within the next two decades, then the MP pension plan will follow suit. The other major change is to change the contribution setup to 50- 50, which would be more in keeping with private sector pension plans. Right now the contribution set-up is that MPs contrib- ute from 11 per cent to 14 per cent to their pension plan with the federal government putting in the remainder. The changeover from the current contribution setup to a 50- 50 rate would be phased in. Details on how that will work will be part of the upcoming final budget implementation bill. Lemieux himself marks his seventh year as an MP in January 2013. He already meets the minimum term limit of six years that makes him eligible for the current MP pen- sion setup if he was to resign now or if he was voted out of office in the next federal election. He would still have to wait until he was 55 before he could collect. He has no problem promising to vote for all the changes to the MP pension setup when the final budget implementation bill comes up to vote later in the year.
GREGG CHAMBERLAIN gregg.chamberlain@eap.on.ca
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OTTAWA | While his colleagues on both sides of the House of Commons dicker like devils over the details, Conservative MP Pierre Lemieux is taking his stand right now on proposed changes to the federal pension plan for MPs. He welcomes them. “I fully support it,” said Lemieux during a Sept. 27 phone interview. “It’s a big change and it’s necessary, especially for the taxpay- er.”The 2012 federal budget plan included a proposal for reforms to the current pension plan set up for MPs. Details for the changes are still under discussion and will form part of the second and final budget implanta- tion bill that Parliament votes on later in the season. The parliamentary pension scheme for MPs long pre-dates the current Conserva- tive government. It has come under fire off and on over many years as being a lucrative “golden parachute” with most of the contri- butions to the plan and its payouts coming from taxpayers through the general rev- enue fund. Prime Minister Stephen Harper promised that the 2012 budget would cor- rect the situation and bring the MP pen- sion plan more in line with private sector pension plans. The changes to the MP pen- sion plan, if approved, will take effect after the next federal election. Two of the most important changes will affect when retir-
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Campbell & Sabourin LLP/s.r.l. Barristers & Solicitors • Avocats et notaires ANNOUNCEMENT / AVIS We welcome Michael J. Houle, Q.C., as Counsel with the law firm of Campbell & Sabourin LLP/s.r.l. He is fluently bilingual and practices primarily in the areas of criminial law, civil litigation and municipal law.
Nous souhaitons la bienvenue à Michael J. Houle, C.R., à titre d’avocat-conseil au cabinet d’avocats Campbell & Sabourin LLP/s.r.l. Parfaitement bilingue, il règle surtout des dossiers en matière de droit criminel, de contentieux civil et de droit municipal.
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James D. Campbell B.A., LL.B. Chantal J. Sabourin B.A., LL.B. Michael J. Houle Q.C., B.A. B.Comm., LL.B. - Counsel
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