If we use the old calculation (more advantageous) and his salary when the elections were launched as if he got that for 5 years (and that’s the most he’s been paid as an MP):
3% x 300k x 20 = 180k/year
It will be lower than that because of the calculation changing from 2016 forward.
7 more years of service and that calculation would have went past 20k/month, but as I said it’s not as generous anymore AND he can’t get more than 75% of the average salary of his 5 best years. 240k is 75% of 320k so at his current best he wouldn’t be eligible to 20k/year.
Look at the website I shared, the calculation is right there. Trivedi made things more complicated than needed to be and he calculated based on the value of his fund, not the way it’s administered.
From the get go PP never earned enough to get 240k/year so…
I work in that field for the federal government, I know a thing or two about it myself.
He’s maxed out at a 20k per month pension.
How could someone even survive on that?!
(/s)
Apparently he gets a 10% reduction if he takes it at 55 instead of 65 but I’m sure you could skimp and save a bit to make that work.
https://www.canada.ca/en/treasury-board-secretariat/services/pension-plan/pension-publications/reports/administration-members-parliament-retiring-allowances-act-report/fiscal-year-ended-march-31-2020.html#toc03
More info on all that stuff and no he’s not getting 20k/month
A calculation of Poilievre’s House of Commons pension indicates that he could draw more than $230,000 annually once he turns 65.
If we use the old calculation (more advantageous) and his salary when the elections were launched as if he got that for 5 years (and that’s the most he’s been paid as an MP):
3% x 300k x 20 = 180k/year
It will be lower than that because of the calculation changing from 2016 forward.
7 more years of service and that calculation would have went past 20k/month, but as I said it’s not as generous anymore AND he can’t get more than 75% of the average salary of his 5 best years. 240k is 75% of 320k so at his current best he wouldn’t be eligible to 20k/year.
I think I’ll trust Shanker Trivedi, the program director of the Schulich School of Business masters of accounting program.
Look at the website I shared, the calculation is right there. Trivedi made things more complicated than needed to be and he calculated based on the value of his fund, not the way it’s administered.
From the get go PP never earned enough to get 240k/year so…
I work in that field for the federal government, I know a thing or two about it myself.
Did you work into the equation that he started twelve years before Jan 1 2016?
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That he gets at 65