Pensions for public officials are often a topic of interest.
One question that comes up frequently is, “Do Alberta MLAs get a pension?”
This article aims to provide a definitive answer to that question, along with additional insights.
Do Alberta MLAs Get A Pension?
No, Alberta MLAs do not currently receive a pension.
The pension plan for Alberta MLAs closed to new entrants in 1989, and active participation ended in 1993. Since then, there has been no pension plan for Alberta MLAs.
History of Alberta MLA Pension Plans
The pension plan for Alberta MLAs was governed by the Members of the Legislative Assembly Pension Plan Act.
It allowed a former officer with at least 5 years of pensionable service to receive a pension, calculated based on 2% of their pensionable salary multiplied by the number of years of pensionable service.
Frequently Asked Questions about Alberta MLA Pension Plans
- What happened to the old pension plan?
- The old pension plan closed to new entrants in 1989, and active participation ended in 1993. Since then, there has been no pension plan for Alberta MLAs.
- How was the pension amount calculated in the old plan?
- The pension amount was calculated as 2% of the pensionable salary multiplied by the number of years of pensionable service.
- Is there any form of retirement benefit for current MLAs?
- There is no information to suggest that a new pension plan has been established for current MLAs.
Financial Landscape for Alberta MLAs: Beyond Pensions
While Alberta MLAs may not have a traditional pension plan, they are compensated in various other ways.
From salaries and retirement investment contributions to committee fees and reimbursements for travel and accommodation, MLAs in Alberta have a range of financial benefits.
It’s essential to consider these various forms of remuneration when discussing the financial landscape for Alberta’s elected officials.
In Summary: Key Takeaways
- There is no current pension plan for Alberta MLAs.
- The old pension plan closed to new entrants in 1989 and active participation ended in 1993.
- The old plan calculated pensions based on years of service and pensionable salary.
