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.
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