The appellants, representing federal public servants, RCMP, and Canadian Forces personnel, appealed the dismissal of their actions seeking the return of over $28 billion to their pension plans.
The Government had amortized and later withdrawn actuarial surpluses from the Superannuation Accounts.
The Court of Appeal dismissed the appeal, finding that the Superannuation Accounts were merely legislated ledgers containing no actual assets, as employee contributions were deposited into the Consolidated Revenue Fund.
The Court held that the Government did not owe a fiduciary duty to the plan members regarding the surplus, nor was it unjustly enriched.
Furthermore, the 2000 amendments to the governing statutes clearly authorized the Government to withdraw the actuarial surplus.