Justin Trudeau will receive two taxpayer-funded pensions and here's how much money he'll get
It's in the millions. 😬
Justin Trudeau.
Justin Trudeau will get two taxpayer-funded pensions because he was the prime minister and a member of parliament.
That means he can get millions of dollars in pension payouts over the next 30-plus years.
Recently, the Canadian Taxpayers Federation (CTF) released calculations for the estimated pension and severance payments for the 110 MPs who were defeated in the federal election or didn't seek re-election.
Trudeau will get two taxpayer-funded pensions in retirement that, when combined, total $8.4 million, according to CTF estimates.
Also, Trudeau is getting a $104,900 severance payout because he didn't run again as an MP in the 2025 federal election.
Payouts for Trudeau's MP pension start at $141,000 per year when he turns 55 years old in 2026.
Those payments will continue until he's 90 years old. If he lives that long, Trudeau's MP pension will total $6.5 million, according to the CTF estimate.
Payouts for Trudeau's prime minister pension will begin at $73,000 per year when he turns 67 years old in 2038.
It will total an estimated $1.9 million if he lives to the age of 90.
Franco Terrazzano, federal director of the CTF, said that pensions need to be reformed and yearly pay raises for MPs need to end.
"A prime minister already takes millions through their first pension, they shouldn’t be billing taxpayers more for their second pension," Terrazzano said. "The government must end the second pension for all future prime ministers."
There have been pension reforms in the past, which means taxpayers don't "shoulder as much of the burden as they used to," according to the CTF.
"But there's more work to do to make the politician pay affordable for taxpayers," Terrazzano said.
Defeated or retiring MPs will get an estimated $5 million in annual pension payments, reaching a cumulative total of $187 million by age 90.
Also, an additional $6.6 million will be paid out in severance cheques to some former MPs.
There are 13 former MPs who will collect more than $100,000 a year in pension income, according to the CTF's estimates.