Pension Plan of Members of the National Assembly
Resolution #58: Pension Plan of Members of the National Assembly (Official French version)
Members of the National Assembly receive generous pensions in comparison to the average Québec worker, and taxpayers pay dearly for this pension.
Pensions plan for Members of the National Assembly has several advantages: the Member of the National Assembly can retire at 60 years of age although the normal retirement age is 65. They can also receive their pension even if they has not reached 60 years of age. This generosity is even more tangible in regard to pension credits, which amount to 4% per year, while the most generous private plans are limited to 2%. Therefore, after 25 years of service, the Member's pension may reach 100% of their salary.
Taxpayers fund most of these generous benefits since MNA's pay less than one quarter of the cost of the plan.
A CPQ government will reform the system by delaying the normal retirement age to 67 years of age, limiting pensions credit to 2% per annum. Pensions will not exceed 70% of the salary and Members of the National Assembly will be required to pay half the cost of their plan.