News Talk 770 Blogs
Podcasts
Share This Page
    Like us on Facebook
     


Sweet pension plan for politicians
Posted 10/22/2012 1:23:00 PM

My parents always taught me to plan for a rainy day, a financial rainy day. The downpour could come in the form of losing a job, being unable to work, or retiring. They never said "let someone else be responsible for your rainy day". Yet that's exactly the way things are looking for our provincial politicians. After Premier Redford scrapped the contentious transition allowances during the election campaign an all-party member committee has come up with a new plan, and one that will cost "you", not "politicians" more money. The transition allowance has indeed been scrapped, only to be replaced with a severance allowance. Different name, same aroma, it stinks. Retiring or defeated politicians would receive one month's pay for every year of service up to a maximum of 12 months. If I retire I don't expect you or my company to pay for my years on the air. If for some reason I am fired I know I wouldn't be getting any money either. When a politician loses his job in an election he or she has been fired, we shouldn't have to compensate them for that. And if they followed my parents' advice they would have been saving over the years for such an event. Which leads me to the second decision to come out of the all party member committee. More than doubling their RRSP contribution rate from just over 11 thousand dollars a year to 23 thousand dollars a year. All of it coming from taxpayers, with politicians not contributing one penny. If you're lucky you've got a company pension plan where you contribute half and your company contributes half. Not so for our MLA's. They sit back and let the taxpayers do all the saving for 'their' rainy day. If you ask me, there's a storm brewing in Alberta and the politicians will not be able to run for cover on this matter.

Posted By: Angela Kokott  

Leave a comment:

· Subscribe to comments
Be the first to comment here.