Defeated MPs will get up to $15,000 from Canadian taxpayers to aid their transition into the workforce, among other benefits.
The 48 MPs who were defeated in the October 21 federal election will be getting $15,000 in allowances to pay for a career transition program or other career-related expenses like tuition for further education and office supplies.
Defeated MPs are also entitled to four return trip flights anywhere in Canada for job interviews or other career-related reasons.
This compensation is significantly more generous than what ordinary Canadians receive when they are fired.
The compensation is even more generous for MPs who chose not to seek another term.
MPs who decided not to run again received severance pay from the taxpayer amounting to around $1,619,000, or an average of $89,944 per MP.
Furthermore, the 18 MPs who had not served a minimum six years, which is required to get a pension, will instead receive half their annual salary as severance.
In 2018, MPs earned an annual salary of $153,900, and cabinet ministers earned $264,400.
They will also get their sizeable pension contributions back with interest.
For context, the severance pay required by law in Ontario for someone in that pay-grade who worked for four years would be entitled to less than $14,000.
MPs who have served the required six years in the House will be able to receive one of the most generous pensions in Canada once they turn 65.
The contribution rate of MPs in 2019 at the maximum contribution stood at 20.64%, meanwhile ordinary public sector employees received only 8.68%.
Combined with near-annual pay raises, being an MP is a highly lucrative profession, regardless if they got re-elected in October.
