Pension Surplus: Supreme Court of Canada Hears Appeal Regarding the Removal of over $28 Billion in Surplus Amounts from the Public Service, RCMP and Canadian Forces Pension Accounts

Our firm recently presented arguments to the Supreme Court of Canada in a significant case involving the removal of the over $28 billion surplus that had built up in the federal Public Service, RCMP and Canadian Forces pension accounts.

Advancing arguments on behalf of the Public Service Alliance of Canada and a number of associations representing current and former members of the Armed Forces and the Royal Canadian Mounted Police, our firm maintained that employees had an equitable right to the significant portions of the surplus that were directly attributable to contributions by workers and that this right had not been extinguished by legislation passed in 2000. This is the first case to be heard by the Supreme Court with respect to the rights workers have to a surplus in a statutory pension plan.

PSAC and the above-noted associations were represented by Andrew Raven, James Cameron and Andrew Astritis of RCBY. The Court reserved judgment on the matter.