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Professional Institute Disappointed by Supreme Court of Canada Decision on the Public Service Pension Plan (PSPP) Surplus


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© Marketwire 2012
2012-12-19 20:28:02 -

OTTAWA, ONTARIO -- (Marketwire) -- 12/19/12 -- Today's Supreme Court of Canada (SCC) decision marks the end of over ten years of litigation regarding the federal government's appropriation of an estimated $30.2 billion surplus from the superannuation accounts of public service, RCMP and Canadian Forces employees in 1999. Despite their best efforts, the Professional Institute of the Public Service of Canada (PIPSC) and the other bargaining agents involved in the case were unable to convince the SCC to overturn previous Ontario Superior Court of Justice and Ontario Court of Appeal rulings in this regard. The court action was undertaken in 1999 following passage of Bill C-78, the Public Service Pension Investment Board Act, which allowed the federal government to help itself to billions of dollars in pension surplus funds contributed by public service employees.



"While we are disappointed by the Court's decision, we have always felt that it was our duty to fight to the end to protect our members' pensions", said PIPSC President Gary Corbett. "If this had been a case involving the private sector, an employer would never have gotten away with this action".


Today's SCC decision has no immediate impact on the administration of the PSPP, and PIPSC members will see no changes to their participation in the Plan other than those recently outlined in Bill C-45. "We will continue to take all available measures to protect our members' rights and interests", concluded Corbett.


The Professional Institute of the Public Service of Canada represents some 60,000 professionals and scientists across Canada's public sector.



Contacts:

Pierre Villon

(613) 228-6310 extension 2228 or

(613) 794-9369 (cell)



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