The following is a fact-checked script used for my video on Justin Trudeau’s pensions, containing links to sources used.
Former Prime Minister Justin Trudeau is entitled to two taxpayer-funded pensions worth a combined $8.4 million. Here’s how he got that.
In Canada, the Prime Minister is traditionally also a Member of Parliament.
MPs qualify for a pension after just six years of service and can begin collecting reduced payments as early as age 55, and qualify for the full pension at 65.
On top of his MP pension, Trudeau is entitled to a Prime Minister’s pension.
Trudeau, who served as an MP for 16 years, will get $141,000 per year as his MP pension starting at age 55, and an additional $73,000 per year from the Prime Minister's pension when he turns 67.
That’s more than what the average retiree makes and more than what the average Canadian makes in a year.
The Canadian Taxpayers Federation estimates that Trudeau’s two pensions combined are worth around $8.4 million.
And that’s not all.
Trudeau is also entitled to a severance payout, as departing MPs, including those who lose their seats, are entitled to receive $104,900, which is half of an MP’s annual salary of $209,800.
Trudeau is not the only one cashing in.
One hundred and ten MP’s who were either defeated or did not run in the last election will receive pension and severance payments.
Among them, NDP Leader Jagmeet Singh, who qualified for a pension this February after propping up the Liberal government for almost three years. He will collect over $60,000 per year once he turns 65.
As for Conservative Leader Pierre Poilievre, he was elected at 25-years-old and qualified for his pension at age 31. When he turns 65, he’s expected to collect over $200,000 a year, a figure that could grow considerably if he becomes Prime Minister.
Poilievre was also entitled to receive a six-figure severance, given that he lost his seat of Carleton in the recent election, but he turned that down, amidst planning to run again in Alberta.
Personally, I don't think the Prime Minister should be eligible for a pension, because former Prime Ministers tend to make a lot of money after their political lives. They cash in on, among other things, speaking fees and cushy jobs.
I also don't think that MPs who lose their seats, like Jagmeet Singh, should be entitled to a severance. You were FIRED by the people, sir. And getting fired with cause should not come with a six-figure payout.
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