The Canadian Taxpayers Federation is suggesting we shouldn't feel too bad for MPs like Pat Martin or Steven Fletcher.

Sure, the longtime incumbents suffered humbling losses at the polls following a long and hard campaign, but at least they have some of the best pension plans imaginable. The CTF estimates this election's crop of 180 defeated and retiring MPs will collect $5.3 million in pension payments per year, reaching a combined $209 million if they all hit the age of 90. Another $12.8 million in severance cheques will be issued to former MPs like Lawrence Toet, whose four-year term in office wasn't enough to earn a pension but did manage to give him $83,700 in severance.

"Losing an election can be tough, but most MPs have a soft financial landing," said Aaron Wudrick, the CTF's federal director, in a press release.

For Martin, the NDP MP for Winnipeg Centre since 1997, that means he's now eligible to collect a pension of $94,739 per year, according to the taxpayer lobby group. Assuming Martin lives to 90, he'll collect more than $4 million in pension money.

Fletcher, meanwhile, will receive a pension of $64,953 for 11 years of service as the Tory MP for Charleswood-St. James-Assiniboia-Headingley. He'll also receive $83,700 in severance pay and, if he lives to 90, would collect a total of $3.27 million.

CTF officials said taxpayers contributed $17 for every dollar put into the plan by an MP towards their pension. Come Jan. 16, that ratio will slowly shift to a ration of $1.60 in taxpayer contributions for every buck put in by an MP or senator.