The Hill Times
OTTAWA—There’s a behind-the-scenes battle brewing over how to use billions of dollars of surpluses piling up in the federal public service pension plan. The country’s largest pension plan has been running a surplus for years, but it has now reached a “non-permissible” level under the law, sources indicate. The government will have to reduce the surplus once the Office of the Chief Actuary provides an updated report on the plan and its surplus size this fall.
All these factors complicate an understanding of the pension plan’s financial health, and the impact on workers and employers. The government has the added complication that it operates some of the country’s biggest plans. It has one for public servants, one for the military, and one for the RCMP. They account for the government’s second–biggest liability after the federal market debt. With rising debt and deficits, the performance of these plans becomes increasingly critical.
Public Services And Procurement
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