Wednesday, September 29, 2021, Calgary, AB - Farkas continues platform rollout with promise to scrap the City Council “Golden Pension”
Mayoral Candidate Coun. Jeromy Farkas has continued to roll-out his ten-point platform with a commitment to scrap the City Council “golden pension.”
“Four years ago, I kept my promise to turn down the golden pension. I did it for every Calgarian who has struggled to make ends meet. I did it because it was the right thing to do. It’s time City Hall starts to lead by example,” Jeromy said. “If elected mayor, I promise to turn down the golden pension again, and fix it for good.”
According to the Canadian Taxpayers’ Federation, Calgary City Council’s overly generous, defined benefits plan has an astounding ratio of nearly five-to-one, meaning taxpayers pay $5 for every $1 paid by the elected official. Between 2007 and 2016, Calgary’s Golden Pension cost taxpayers more than Edmonton, Ottawa and Vancouver pension plans combined.
The Canadian Taxpayers Federation estimates that if Jeromy served three terms and lived to the age of 85, he has saved taxpayers $1.1M by declining the Golden Pension. The CTF has examined this platform promise and considers this to be an achievable goal.
“Scrapping Council’s golden pension and adopting a defined contribution model will bring Calgary more in line with comparable cities across the country. It is good leadership by example and will result in annual cost savings to the taxpayer. We challenge all other mayoral candidates to commit to reforming the golden pension, once and for all,” Kevin Lacey, Alberta Director with the Canadian Taxpayers Federation, said.
“The buck stops here. We need to rein in spending at City Hall and lead by example. Calgarians are ready for change, and change starts now. It’s time to reform Council’s golden pension,” concluded Jeromy.
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