• CTF applauds new Calgary city councillor Jeromy Farkas for refusing golden council pension and transition allowance
• CTF estimates the two would have paid out upwards of $1.1 million

The Canadian Taxpayers Federation (CTF) applauded new Calgary city councillor Jeromy Farkas today for refusing council’s golden pension plan and the large goodbye cheques (transition allowance) council members receive if they quit or are defeated. (Photo: Jeromy Farkas Credit: Jeromy Farkas Facebook page)

Assuming Farkas serves for 12 years, and lives to age 85, the CTF estimates his pension and transition would have amounted to upwards of $1.1 million.

“Councillor Farkas has demonstrated an immense amount of principle by refusing to accept council’s golden pension and transition payments,” said CTF Interim Alberta Director Colin Craig. “We hope other council members follow his lead or act to scale back council’s golden perks.”

Since September, the CTF has been drawing attention to the enormous cost to taxpayers for council’s pension benefits and transition allowances. From 2007 to 2016, contributions to council’s pension were extremely lopsided:

Taxpayers had to pay:  $6,132,177+
Council members paid: $1,187,000

While Statistics Canada data shows 76% of Albertans working outside of government don’t have a workplace pension, Mayor Nenshi actually qualifies for two pensions from the city; the Elected Officials Pension Plan and the Elected Officials Supplementary Pension.