Farkas declines council pension, transition allowance
The outgoing Ward 11 councillor, who proved unsuccessful in his attempt to become Calgary's next mayor, says he has made good on his promise to refuse his council pension.
One day after finishing second to now mayor-elect Jyoti Gondek, Jeromy Farkas confirmed on social media that he had "declined the City Council golden pension and transition allowance."
According to Farkas, the cost of declining the "golden pension" will likely exceed $290,000 as he would have been eligible for $9,433 per year, rising with inflation, plus Canada Pension Plan contributions, after serving a four-year term.
"A promise made is a promise kept," said Farkas in Tuesday's statement.
Several early polls suggested Farkas was the frontrunner in a two-horse race but, when the results from 256 of the 259 tabulators were compiled, he was defeated by Gondek by nearly 58,000 votes (172,314 to 114,482).
Farkas has not disclosed whether he has future political aspirations.
CTVNews.ca Top Stories
'Anything to win': Trudeau says as Poilievre defends meeting protesters
Prime Minister Justin Trudeau is accusing Conservative Leader Pierre Poilievre of welcoming 'the support of conspiracy theorists and extremists,' after the Conservative leader was photographed meeting with protesters, which his office has defended.
What is changing about Canada's capital gains tax and how does it impact me?
The federal government's proposed change to capital gains taxation is expected to increase taxes on investments and mainly affect wealthy Canadians and businesses. Here's what you need to know about the move.
'My stomach dropped': Winnipeg man speaks out after being criminally harassed following single online date
A Winnipeg man said a single date gone wrong led to years of criminal harassment, false arrests, stress and depression.
Bank of Canada officials split on when to start cutting interest rates
Members of the Bank of Canada's governing council were split on how long the central bank should wait before it starts cutting interest rates when they met earlier this month.
Pilot reported fire onboard plane carrying fuel, attempted to return to Fairbanks just before crash
One of the two pilots aboard an airplane carrying fuel reported there was a fire on the airplane shortly before it crashed and burned outside Fairbanks, killing both people on board, a federal aviation official said Wednesday.
'One of the single most terrifying things ever': Ontario couple among passengers on sinking tour boat in Dominican Republic
A Toronto couple are speaking out about their 'extremely dangerous' experience on board a sinking tour boat in the Dominican Republic last week.
7 surveillance videos linked to extortions of South Asian home builders in Edmonton released
The Edmonton Police Service has released a number of surveillance videos related to a series of extortion cases in the city now dubbed 'Project Gaslight.'
Ukraine uses long-range missiles secretly provided by U.S. to hit Russian-held areas, officials say
Ukraine for the first time has begun using long-range ballistic missiles provided secretly by the United States, bombing a Russian military airfield in Crimea last week and Russian forces in another occupied area overnight, American officials said Wednesday.
Manitoba government tables bill to end ban on homegrown recreational cannabis
Manitoba is planning to lift its ban on the home growing of recreational cannabis.