The base salary for MPPs, which has been stuck at $116,500 since 2009, would rise by 35 per cent to $157,350 per year. Despite the pay increase, MPPs will still earn less than Toronto city councillors, who make $170,588.60 annually. The proposed plan would replace the current retirement savings arrangement and provide politicians with a secure retirement benefit. The new pension plan would be integrated with the Public Service Pension Plan (PSPP), and politicians would join on the same terms as other members, with an additional supplementary pension benefit. The proposed pension plan is anticipated to cost $6.8 million in total and would replace the current plan on Jan. 1, 2026.