Golden handshakes for Plante and others
Valérie Plante will receive a golden handshake of $310,000 and others who lost their positions or left politics as of last November will also benefit from lesser amounts.
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Kate
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Jonathan 15:04 on 2026-02-06 Permalink
It’s the first time i hear the term Golden Handshake used in this context. My understanding is it is usually used for those who are fired or forced to resign.
Kate 15:12 on 2026-02-06 Permalink
It was perhaps careless usage.
Anton 15:16 on 2026-02-06 Permalink
In Germany, elected officials get pretty high pensions relative to the number of years they serve. I guess it’s to compensate for the fact, that often politicians spend many years campaigning beige getting a job? O wonder whether there’s something similar happening here — how do these payments relate to retirement plans?
Anton 15:17 on 2026-02-06 Permalink
(iOS auto correct is the dumbest piece of tech)
CE 16:20 on 2026-02-06 Permalink
@Anton, obviously you haven’t typed a message on Slack using a phone!
Ian 17:16 on 2026-02-06 Permalink
Finding out pensions for municipal is not as easy as MNAs. Does anyone have any idea what Plante’s pension will be?
Also, i know municipal pensions used to kick in at age 60. Is that still the case?
Jonathan 19:46 on 2026-02-06 Permalink
there are no pensions for elected officials
Ian 20:17 on 2026-02-06 Permalink
That’s not true.
Even Jean Drapeau had a pension of $52 403.79
H. John 22:43 on 2026-02-06 Permalink
@Jonathan
As Wiki mentions: “A golden handshake is a clause in an executive employment contract that provides the executive with a significant severance package in the case that the executive loses their job through firing, restructuring, or even scheduled retirement.” It’s been used since the 60’s and has often been used to refer to the packages elected officials or government appointees receive when leaving office.
And yes, there are pensions for elected officials as Ian pointed out:
R-9.3 – Act respecting the Pension Plan of Elected Municipal Officers
https://www.legisquebec.gouv.qc.ca/fr/document/lc/R-9.3?langCont=en&cible=
Like other Quebec municipal elected officials, the mayor participates in the provincial pension plan for municipal elected officials, and the amount depends mainly on:
• years in office
• pensionable salary while serving
• age at retirement
Under Quebec’s plan for municipal elected officials:
• Pension accrues at roughly 2% of pensionable salary per year of service (since 1992).
• Earlier service (pre-1992) accrued at 3.5% per year.
• Eligibility generally begins at age 60 with at least 2 years of service (earlier with reductions).
Estimated Plante pension:
8 years × 2% = ≈16% of final salary
So roughly:
• 16% × $221,000 ≈ $35,000/year
• ≈ $2,900/month (starting at eligible retirement age)
Ian 11:01 on 2026-02-07 Permalink
Thank you, H. John – that’s pretty decent, but less than I expected.