MLAs technically qualify for two MLA pension plans. The “Members Retiring Allowances Plan” and “Members Supplementary Retiring Allowances Plan”.  The pension plan is not invested and all payments come out of government's general revenue fund, see HERE

 

Numbers are for the 2014-15 fiscal year.

Total Contribution by MLAs

 

Contributions to Members Retiring Allowances Plan: $570, 202

Contributions to Members Supplementary Retiring Allowances Plan: $0

Total Contributions by Taxpayers:

 

Matching Contributions to Members Retiring Allowances Plan: $1,091,847

+

Contributions to Members Supplementary Retiring Allowances Plan: $1,376,300

= $2,468,147 Total Matching Contributions 

$ 570,202 MLA contributions 

$2,468,147 Total Matching Contributions

= $4.30:$1 Ratio of matching contributions to MLA contributions

 

Add Interest Payments. (Note: Taxpayers pay for all payments including interest, since the plan is not invested. See more infomration HERE)

 

Interest Contributions to Members Retiring Allowances Plan: $2,862,549

+

Interest Contributions to Members Supplementary Retiring Allowances Plan: $5,060,526

=

$7,923,075 Total Interest Contribution Paid by Taxpayers

 

Contribution Ratio between Taxpayers and MLAs

 

$2,468,147 (taxpayer matching contributions)

+

$7,923,075 (interest contributions paid for by taxpayers)

=

$10,391,222 Total cost of MLA pension plan to the taxpayer

 

Contributions by MLAs to their pension: $570,202

Contributions made by taxpayers (including interest): $10,391,222

=

$18.22 : $1 ratio 

MLA Pension Financial Statements can be found HERE