Quick guide to political pension payouts

OTTAWA — The latest report on the parliamentary pension plan tabled this week — just hours before a pay raise kicked in for federal politicians — shows taxpayers contributed nearly $6 into the pension plan for every $1 contributed by members of Parliament and senators:

6 — Number of years a parliamentarian must serve to be eligible for pension benefits.

$28,211,684 — Total contributed by taxpayers to the parliamentary pension plan in 2012-2013.

$4,790,497 — Total contributed by MPs and senators to their own parliamentary pension plan in 2012-2013. 5. 89:1 — Ratio of what taxpayers contributed to the parliamentary pension compared to what MPs and senators contributed.

$67,461 — Average annual parliamentary pension in 2012-13 for former senators.

$59,307 — Average annual parliamentary pension in 2012-13 for former members of the House of Commons.

722 — Number of former MPs and senators, and their survivors and dependants, who received parliamentary pensions in 2012-13 (549 former MPs and senators, 165 survivors and eight dependants). Changes to parliamentary pension plan adopted in 2012:

Contributions by MPs and senators to the parliamentary pension plan are slowly increasing, and will hit a 50:50 cost-sharing ratio with taxpayers by Jan. 1, 2017.

The changes mean MPs will see their annual contributions rise from approximately $11,000 in 2012 to around $39,000 (or possibly slightly more, depending on MP salaries) by 2017.

Currently, parliamentarians who have served six years can receive full pension benefits at age 55. Starting in 2016, full pension benefits earned will be paid out at age 65.

Salaries for MPs and senators, effective April 1, 2014:

$163,700 for MPs, up from $160,200 the previous year.

$138,700 for senators, up from $135,200 the previous year.

$327,400 for the prime minister, up from $320,400 the previous year.

$242,000 for cabinet ministers and leader of the official Opposition, up from $236,900 the previous year.