We’re Going To Be Spending Almost $1 Billion On MP Pensions By 2020 – Pedestrian TV

Angel

New Member
A bunch of old, retiring politicians are set to earn six figure paycheques every year for the rest of their lives – and you’re footin’ the bill.

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FOX

It’s all part of the Parliamentary Contributory Superannuation Scheme, a former government benefit that was axed 15 years ago.

According to the Sydney Morning Herald, it could cost the average Aussie taxpayer as much as $1 billion to fund the retirements of all politicians that qualify under the scheme. By 2033, it’s expected that taxpayers will be forking out $59 million towards the post-politics lives of our elected officials.

Despite the scheme being trashed by John Howard in 2004, those lucky pollies elected before then still qualify – and that includes a bunch of Big Names you’re probably familiar with like Tony Abbott, Peter Dutton, and Mark Latham, who fought to have the scheme scrapped when he was Labor leader. Latham has been claiming an estimated $80,000 as part of the scheme.

Latham is now running as a NSW candidate for Pauline Hanson’s One Nation. Earlier this month, Hanson rallied against the parliamentary pensions, guaranteeing on Facebook that she would “not be taking a cent” when she leaves her job in the Senate.

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Facebook: Pauline Hanson’s Please Explain

After the election, retiring Coalition ministers like Christopher Pyne and Julie Bishop will be able to settle down with retirement packages around $200,000. More than 25 other MPs qualify for the sweet benefits package should they lose an election or retire.

That lucky 25 will join the 16 MPs and senators who were eligible for the scheme in 2016.

Including spouses of retired MPs, we’re looking at over 400 former politicians who qualify for the scheme. So, if you’ve been wondering why so many politicians seem to be retiring lately, there might be just a hint of temptation involved.

Stories about the scheme pop up before almost every election, as the public is forced to sadly remember how much of their money goes towards the retirement of people who were already highly paid when they were employed. The reaction is as you’d expect:


“Taxpayers face bill of up to $1b to fund MPs’ retirements” #IntegrityCommission should certainly audit where inexplicable “wealth” accumulated during years in “public office”. Excessive self-rewarding by some politicians costs far more than money. @smh https://t.co/m2IIQRhEsj

— Rev Dr Stephanie Dowrick (@stephaniedowric) March 10, 2019


Huge parliamentary pensions in Australia have always really got under my skin. Now, with the banking royal commission and revelations of how everyday people are struggling uphill with the super system, I’ve a full blown outbreak of hives reading this – https://t.co/LFaikTjryy

— alex engel (@axelengel) March 10, 2019


Fook off with your retirement payout https://t.co/7SpBnvk1l1

— SharonPickard (@lispgal) March 10, 2019

The good news is that the audacious scheme was scrapped years ago but the number pumped out by the taxpayer is only going to start trickling down after 2030.

Till then, the only thing that will see that figure go down is the deaths of former MPs and their spouses.

Thank you
https://www.pedestrian.tv/news/one-billion-dollar-pension/
 
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