This appeal considered whether actuarial surpluses recorded in federal public-sector superannuation accounts were assets in which plan members held legal or equitable interests.
The Court held the accounts were statutory accounting records tracking Consolidated Revenue Fund transactions, not segregated asset pools.
It rejected claims based on proprietary entitlement, fiduciary duty, unjust enrichment, constructive trust, and alleged expropriation.
The Court further held the statutory amendments authorized debiting surplus amounts and did not require compensation.
The appeal was dismissed with costs.