December 18, 2012
Despite recent high-profile changes to the pension plans of federal public servants, uniformed personnel and MPs, a critical flaw remains: the contributions to these plans, even after the changes, come nowhere close to covering the rocketing cost of their promises. In “Ottawa’s Pension Abyss: The Rapid Hidden Growth of Federal-Employee Retirement Liabilities,” author William B.P. Robson finds the accumulated unfunded liability of these plans, using fair value accounting, stood at $267 billion at the end of March 2012, almost $118 billion worse than shown in the Public Accounts.
