It’s a very high number compared to previous elections. Some of them tell us that it’s for family reasons, others for their desire to serve their fellow citizens in other fields and many other great stories to make us cry for them.
Besides all the tear jerking that politicians have been giving about retiring here is something else to consider.
Coming at the end of 2015 a change in the pension for MP’s ensures that the age of full retirement for an MP having served at least 6 years, will no longer be 55 years but 65 years. Thus any MP not yet 65 and who wants to benefit from the present pension scheme need only not run in the next election and thus will draw for 10 years longer a government pension of over $100,000/year.
Now under THEIR rules we the people born after 1955 have to work until we are nearly 68 and a sliding scale prevails thereafter.
These elected persons are well accounted for rorting the system something they excel at while turning their hand to penalising pensioners, invalids, veterans, etc, by reducing payments as a show of accountability.
Insider information politicians have should be treated as inside trading with financial institutions bringing them also to account.
For an elected MP approaching 55 and who is not running, that means about $1 MILLION that he/she would not receive should he/she run and win again. One should also add the severance premium (between $80,000 and $125,000) upon his/her departure.
We understand better now all these sudden “family emergencies”, appreciate the newfound desire to advance his/her career in a government job or a committee of some sort and have two or three salaries (and possibly two or three pensions).
Are you still very happy with your choice of member you voted into office that is deserting you for money?