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Following the conclusion of the pension surplus court proceedings, the Association is hoping for an affirmative verdict from Ontario Superior Court Justice de Lobe Panet, who must determine whether or not the federal government misappropriated billions of dollars from the pension plans of public service, RCMP and Canadian Forces employees in 1999.
Testimonies last month placed the pension surplus at $42.7 billion (due to interest and actuarial evaluations); 42.2% of which is estimated by experts to belong to the public service pension account.
Mr. Justice Panet is expected to provide his verdict in the Fall of 2007. In the interim he will evaluate information from 18 days of trial, which involved 10 witnesses and close to 60 exhibits, including the group of 128 internal government documents that he ruled in late 2005 would be admitted into evidence.
The last of the witnesses were recently examined on April 2, then lawyers on both sides completed their respective written submissions. Final arguments began on May 1 and finished within three days.
The Crown’s main arguments were:
The plaintiffs’ main arguments were:
The Association has united with 17 other unions, employee associations and retiree groups, represented by three law firms, in attempt to recover the embezzled pension funds for its members.