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The variance in severance has to do with any additional roles the MPs held at the time of dissolution. So for example, if an MP is a cabinet minister or committee chair or vice-chair, they may have been receiving a higher salary, which would be reflected in their severance.

Overall, the federation says defeated and retiring MPs will collect $3 million in annual pension payments, reaching a cumulative total of $104 million by age 90.

In addition, another $5.8 million in severance cheques will be issued to former MPs.

Canadian Taxpayers Federation director Aaron Wudrick says losing an election is tough, but most former MPs will have a soft financial landing.

“The good news is that thanks to pension reforms, taxpayers will not have to shoulder as much of the burden as they used to,” he said.

Previously, taxpayers contributed approximately $17 for every $1 contributed by an MP or Senator toward their own pension. Since 2016, it has been gradually shifting towards to a ratio of $1.60 in taxpayer contributions for every $1 put in by an MP or Senator, said Wudrick.

Seven former MPs will receive more than $100,000-plus a year in pension income, including outgoing Liberal cabinet minister Ralph Goodale ($176,000) and former Conservative cabinet minister Rob Nicholson ($158,000).

In terms of lifetime estimated benefits to age 90, 12 MPs are projected to collect more than $3 million each.

ticrawford@postmedia.com