Any 'bolding' and 'italics' added below are from me.
At what age can Members receive their retirement allowance? Members who have accumulated at least 6 years of pensionable service may receive an unreduced retirement allowance, as follows:
at age 55 for pensionable service accumulated before December 31, 2015; or
at age 65 for pensionable service accumulated as of January 1, 2016.
Benefits paid under the pension plan are calculated using a formula that is based on the participant’s pensionable service and annual pensionable earnings
over the five consecutive years of highest-paid pensionable service. The current
benefit accrual rate is 3% per year of service. Benefits for pensionable service accumulated as of January 1, 2016, have been coordinated with the Canada Pension Plan (CPP) and the Québec Pension Plan (QPP).
Jagmeet Singh | Party Leader | $271,700 |
The above is valid as of this past summer.
As of March 31, 2020, the 'average' pension paid to a CDN MP is 69,842 - no small amount - and that's 5 yrs old so it has only gone up.
www.canada.ca