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Budget to put brake on MPs' pensions (Canada)
Source: CBC
Finance Minister Jim Flaherty's budget will take the shine off what critics call MPs' gold-plated pensions, reports Greg Weston for CBC News.
The budget will make sitting MPs pay more, and wait longer, to collect less in their retirement.
MPs can now collect their pension at age 55. That will increase to 60 or 65. For every dollar MPs put into their pension fund, taxpayers now contribute about $5.
Former Bloc Québécois leader Gilles Duceppe, who was voted out of office in the last election after serving as an MP for 20 years, now enjoys a parliamentary pension of over $140,000 a year — for life
Read more: http://www.cbc.ca/news/canada/story/2012/03/28/budget-pensions.html
