To lessen the pain of new, strict changes to Members of Parliament’s pension plans, the government has lifted the freeze on MP salaries, Global News reports.
To lessen the pain of new, strict changes to Members of Parliament’s pension plans, the government has lifted the freeze on MP salaries, Global News reports.
The freeze on MP salaries, which has been in place since 2010, will be removed when the new pension rules come into effect, and future wage increases will be tied to the average increase in public sector wages.
As MPs will soon be required to contribute thousands more each year to their pension plan, it is not expected that MPs will, ultimately, end up benefiting financially overall from the salary freeze’s elimination.