MP Bruce Hyer thinks Members of Parliament should have the same pension plan as every other Canadian.
A recent report from the C.D. Howe Institute shows that the pension plan for MPs and Senators is underfunded by close to $1 billion. And because the plan has set aside no assets, that money will be covered by taxpayers when MPs retire.
Hyer (NDP, Thunder Bay-Superior North) said MPs shouldn’t have their own pension plan, but should have to take their chances in the marketplace through the Canadian Pension Plan like everyone else.
Provided of course, that the pension is enough for seniors to live in dignity, he added.
“Whether they’re an MP or someone who worked hard at the local mill or in the bush or at one of the old folks home,” Hyer said Friday.
“I do have sympathy for this argument that what’s sauce for the middle class is sauce for the MPs.”
John Rafferty (NDP, Thunder Bay-Rainy River) said the pension plan needs to be looked at but MPs do sacrifice their personal life for public service and should get some form of compensation.
“I think we will certainly have a look at what the Conservatives come up with.”
