Pensions and other future benefits
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The obligations arising from public sector pensions and other employee and veteran future benefits, sponsored by the government or some of the consolidated Crown corporations and other entities, are measured on an actuarial basis and are presented net of pension assets, unrecognized net actuarial gain or loss and valuation allowance, as well as contributions and benefits paid by some of the consolidated Crown corporations and other entities after their measurement date of December 31 up to March 31.
Public sector pensions
The government sponsors a number of defined benefit pension plans covering substantially all its employees, principally members of the federal public service, the Canadian Forces (including the Reserve Force) and the Royal Canadian Mounted Police, as well as employees of certain Public Service corporations and territorial governments. The government also sponsors several other pension plans; the two most significant ones being for Members of Parliament and federally appointed judges. The government has a statutory obligation to pay the pension benefits it sponsors.
The liabilities for public sector pension plans sponsored by the government are initially recorded through pension accounts, which are generally established pursuant to legislation. The pension accounts track transactions such as contributions, interest credits, benefit payments, transfers and administrative expenses. Any adjustments required under the government's accounting policies are then recorded through allowance for pension adjustment accounts. The allowance accounts reflect the differential between accrual and cash accounting recognized through the years. They also reflect the accumulated difference in interest calculations and consolidation adjustments related to refundable tax amounts remitted to or refunded from the Canada Revenue Agency.
The government's pension plans are generally financed from employer and employee contributions or from government and member contributions. The contributions are either part of general funds or transferred to the Public Sector Pension Investment Board (PSPIB) for investment. Since April 1, 2000, amounts equal to contributions less benefit payments and other charges related to the public service, Canadian Forces—Regular Force and Royal Canadian Mounted Police pension plans, and since 2007 for the Canadian Forces—Reserve Force pension plan, that fall within the Income Tax Act limits are transferred to the PSPIB. The goal of the PSPIB is to maximize returns on investments without undue risk of loss, while having regard to the funding, policies and requirements and financial obligations of each of the pension plans. The PSPIB, a Canadian Crown corporation established under the Public Sector Pension Investment Board Act, reports the results of the investments it holds in its annual report tabled in Parliament. Contributions for all the other pension plans sponsored by the government are part of general funds.
More information on the above-mentioned pension plans can be found in the respective annual report on the administration of the plans tabled in Parliament.
In addition, some of the consolidated Crown corporations and other entities maintain their own defined benefit pension plans covering substantially all of their employees. The majority of the defined benefit pension plans are contributory plans. Employer and employee contributions are made in accordance with the provisions of the plans. Pension plans' funds are held in external trusts that are legally separate from Crown corporations and other entities.
i. Pension plans
Public Service Pension Plan, Canadian Forces Pension Plan including the Reserve Force Pension Plan and Royal Canadian Mounted Police Pension Plan
The pension plans for the public service, Canadian Forces—Regular Force and the Royal Canadian Mounted Police provide for the payment of a lifetime pension and a temporary bridge benefit payable normally until age 65, the age at which members generally become eligible for the Canada Pension Plan (CPP) or Quebec Pension Plan (QPP). The annual lifetime pension is based on the average salary of five consecutive years of highest-paid service and the years of pensionable service. For the Canadian Forces—Reserve Force pension plan, the annual lifetime pension is based on a percentage of indexed pensionable earnings with a temporary bridge benefit payable normally until age 65, the age at which members generally become eligible for the CPP or QPP. Pension benefits are indexed annually on January 1 to take into account the cost of living.
Pension benefits accrue at a rate of 2% per year of pensionable service up to a maximum of 35 years, the exception being those offered under the Canadian Forces—Reserve Force pension plan. These benefits accrue at a rate of 1.5% up to a maximum of 35 years. Pension benefits are coordinated with those of the CPP or the QPP. Pension benefits for the public service pension plan members will accrue under either Group 1 for employees who were plan members prior to January 1, 2013, or Group 2 for employees joining the public service pension plan on or after that date. The normal retirement age for Group 1 members is 60. For Group 2 members, the normal retirement age is 65 and other age-related thresholds were increased by 5 years.
Public service Group 1, Canadian Forces—Regular Force and Royal Canadian Mounted Police members contribute at different rates than public service Group 2 members. The member contribution rates are as follows:
Public service Group 1, Canadian Forces—Regular Force and Royal Canadian Mounted Police pension plan members contributed:
- for the first nine months of fiscal year (FY) 2020: 9.6% (9.8% in 2019) of salary up to the Yearly Maximum Pensionable Earnings (YMPE) for the CPP or QPP and 11.8% (12.1% in 2019) of salary above the YMPE; and
- for the last three months of FY 2020: 9.5% (9.6% in 2019) of salary up to the YMPE and 11.7% (11.8% in 2019) of salary above the YMPE.
Public service Group 2 pension plan members contributed:
- for the first nine months of FY 2020: 8.7% (8.8% in 2019) of salary up to the YMPE for the CPP or QPP and 10.2% (10.5% in 2019) of salary above the YMPE; and
- for the last three months of FY 2020: 8.7% (8.7% in 2019) of salary up to the YMPE and 10.2% (10.2% in 2019) of salary above the YMPE.
Contribution rates for Group 2 members were lower than for Group 1 members due to the lower cost of the benefits associated with a higher normal age of retirement for Group 2 members of 65 compared to 60 for Group 1 members.
Members of the Canadian Forces—Reserve Force contribute 5.2% on pensionable earnings up to 66 2/3 times the defined benefit limit as determined under the Income Tax Regulations.
Employer contributions are made monthly to provide for the cost (net of employee contributions) of the benefits that have accrued in respect of that month at a rate determined by the President of the Treasury Board. For 2020, the employer contribution rates were about 1.0, 1.5 and 1.2 (1.0, 1.5 and 1.2 respectively in 2019) times the current year's employee contribution for the plans under the Public Service Superannuation Act, the Canadian Forces Superannuation Act (Regular Force pension plan) and the Royal Canadian Mounted Police Superannuation Act, respectively. For 2020, the employer contribution rate was about 2.1 (2.2 in 2019) times the current year's employee contribution for the Reserve Force pension plan.
The superannuation accounts, which record the transactions that pertain to pre-April 1, 2000 service, are credited with interest at rates that are based on the Government of Canada long-term bond rate. The average interest rate credited to the superannuation accounts was approximately 3.7% (4.0% in 2019).
The pension fund accounts, which record the transactions that pertain to service since April 1, 2000, are flow through accounts used to transfer funds to the PSPIB. The balance in the pension fund accounts at year-end represents the amounts awaiting transfer to the PSPIB.
The retirement compensation arrangements (RCA) accounts record transactions for those pension benefits above the pension limits set under the Income Tax Act. The RCA accounts No. 1 and No. 2 are registered with the Canada Revenue Agency (CRA) and a transfer is made annually between these RCA accounts and the CRA, either to remit a 50% refundable tax in respect of the net contributions and interest credits or to receive a refund based on the net benefit payments.
Members of Parliament retiring allowances
Members of Parliament are eligible at a certain age to receive a basic allowance upon termination of membership and after having contributed to the plan for at least six years. Retirement age is set at 55 for pensionable service accrued before January 1, 2016 and at 65 for pensionable service accrued on or after January 1, 2016, with the option of reduced benefits for early retirement at age 55. The basic allowance accrues at a rate of 3% per year of pensionable service for both Members of the House of Commons and for Senators. For service accrued before January 1, 2016, the accrual rate is multiplied by the average of the best five consecutive years of sessional indemnity up to a maximum of 75% of the plan member's average sessional indemnity. For service accrued after December 31, 2015, the accrual rate is multiplied by the average of the best five consecutive years of pensionable earnings up to a maximum of 75% of the plan member's average pensionable earnings. Basic allowances are indexed annually on January 1 to the cost of living once recipients reach age 60. Pensionable service accrued on or after January 1, 2016, under the Members of Parliament pension plan, is coordinated with the CPP or QPP at age 60.
The contribution rates have increased over time to bring the plan members' share to 50% as at January 1, 2018. For the 2020 fiscal year, plan members contributed at a rate of 19.5% (19.4% in 2019) of their salary for the first nine months and a rate of approximately 19.7% (19.5% in 2019) for the last three months.
The government contributions are made monthly to provide for the cost (net of plan member contributions) of the benefits that have accrued in respect of that month at a rate determined by the President of the Treasury Board. The government contributions, expressed as a multiple of plan member contributions, are on average as follows:
2020 | 2019 | |
---|---|---|
Members of Parliament | ||
Retiring Allowances Account | 1.0 | 1.0 |
Compensation Arrangements Account | 1.0 | 1.0 |
Contributions are credited to the appropriate pension account, either the Members of Parliament Retiring Allowances Account or the Members of Parliament Retirement Compensation Arrangements Account. The pension accounts are also credited with interest at a rate determined by the Chief Actuary of Canada. The average interest rate credited to the pension accounts in 2020 was approximately 3.3% (2.9% in 2019).
Pension plan for federally appointed judges
This plan provides fully indexed annuities to judges and to all eligible survivors providing they meet minimum age and service requirements. The full benefit amount is generally payable when the member has completed 15 years of pensionable service and the sum of the member's age and years of service equals 80.
Judges appointed to the bench before February 17, 1975, make required contributions of 1.5% of salary. All other judges contribute 7% of salary.
Legislation does not require a specific pension account to be maintained to record the transactions pertaining to this plan. Therefore, except for the portion recorded in the Supplementary Retirement Benefit Account, the liability pertaining to this plan is recorded through an allowance account. During the year, benefits paid are recorded as expenditures against the statutory payment authority. The expense is adjusted at year-end through an allowance account, to bring the current year expense from cash to an accrual accounting basis, similar to that of the other pension plans. During the year, the benefit payments charged to the expenditure authority amounted to $179 million ($170 million in 2019). At March 31, 2020, the portion of the pension liability recorded through an allowance account for the judges' pension plan amounted to $3,505 million ($3,105 million in 2019).
Consolidated Crown corporations and other entities pension plans
Pension benefits provided under consolidated Crown corporations and other entities defined benefit pension plans accrue depending on the terms of the plans. Generally, they are based on a combination of an accrual rate per years of pensionable service and some type of pensionable earnings average. Some of the consolidated Crown corporations and other entities defined benefit pension plans are closed to new participants.
ii. Actuarial valuations
As required under the Public Pensions Reporting Act, actuarial valuations of the pension plans sponsored by the government are performed at least every three years for funding purposes. The actuarial valuations are performed by the Office of the Chief Actuary, submitted to the President of the Treasury Board, and tabled in Parliament.
The most recent date of the actuarial valuation for funding purposes of each pension plan sponsored by the government is as follows:
- Canadian Forces—Regular Force—March 31, 2016;
- Canadian Forces—Reserve Force—March 31, 2016;
- Members of Parliament—March 31, 2016;
- Federally appointed judges—March 31, 2016;
- Public Service—March 31, 2017; and,
- Royal Canadian Mounted Police—March 31, 2018.
The actuarial valuations for the public service, Canadian Forces, Royal Canadian Mounted Police and Members of Parliament pension plans include the valuation of the Retirement Compensation Arrangements (RCA) component related to each plan.
Where applicable, the funding valuations provide the government with recommendations for setting both employer and employee contribution rates, as well as any actuarial adjustment to amortize deficiencies or excesses. These actuarial adjustments are made in equal instalments over a period not exceeding 15 years commencing in the year in which the actuarial report is laid before Parliament.
To address actuarial deficiencies, no adjustment was made ($3,107 million credited in 2019) to the Public Service Superannuation Account, $145 million ($145 million in 2019) were credited to the Canadian Forces Pension Fund Account, $5.3 million ($5.3 million in 2019) were credited to the Reserve Force Pension Fund Account, no adjustment was made ($9 million credited in 2019) to the Royal Canadian Mounted Police Pension Fund Account and $956 million (nil in 2019) were credited to the Royal Canadian Mounted Police Superannuation Account. The actuarial adjustments recorded in pension fund accounts are transferred to the PSPIB for investment. To address deficiencies, the consolidated Crown corporations and other entities made special funding payments of $1 million ($8 million in 2019).
Table 6.15 presents a summary of the balances and transactions for public sector pension plan liabilities. In particular, receipts and other credits for the government's pension accounts consist of contributions from plan members, the Government of Canada, participating Public Service corporations and territorial governments, as well as transfers from other pension funds, actuarial adjustments to amortize deficiencies, refunds of refundable tax and interest. Payments and other charges for the government's pension accounts consist of annuity payments, minimum benefits, cash termination allowances (lump sum payments to employees suffering a disability), returns of contributions, pension division payments, transfer value payments, transfers to other funds, remittances of refundable tax, payments of administrative expenses, actuarial adjustments to amortize excesses, and transfers to PSPIB. Adjustments to the government's allowance accounts result from the differential with annual actuarial valuations performed for accounting purposes. These include differences between benefits earned and contributions and interest calculations, as well as from other adjustments required under the government's accounting policies such as recognition of actuarial gains and losses and consolidation adjustments related to refundable tax amounts.
Pension benefits funded by the government relate to post March 2000 service that falls within the Income Tax Act limits for the three main public sector pension plans and all service for the Canadian Force—Reserve Force pension plan, as funds are invested through the PSPIB. Funded pension benefits also relate to consolidated Crown corporations and other entities where pension plans' funds are held in external trusts that are legally separate from Crown corporations and other entities. For unfunded pension plans, separate invested funds are not maintained. These relate to all pre-April 2000 service and only to post-March 2000 service that falls above the Income Tax Act limits for the three main public sector pension plans, all service periods for the pension plans of the federally appointed judges and Members of Parliament, and some of the consolidated Crown corporations and other entities pension plans.
April 1, 2019 | Receipts and other credits | Payments and other charges | March 31, 2020 | |
---|---|---|---|---|
Funded pension benefits | ||||
Public Service Pension Fund Account, Table 6.18 | 17 | 5,302 | 5,295 | 24 |
Allowance for pension adjustments | (negative 236) | 1,786 | 3,579 | (negative 2,029) |
Subtotal | (negative 219) | 7,088 | 8,874 | (negative 2,005) |
Canadian Forces Pension Fund Account, Table 6.20 | 111 | 1,534 | 1,519 | 126 |
Allowance for pension adjustments | 581 | 4 | 293 | 292 |
Subtotal | 692 | 1,538 | 1,812 | 418 |
Reserve Force Pension Fund Account, Table 6.21 | (negative 124) | 79 | 92 | (negative 137) |
Allowance for pension adjustments | 81 | 32 | 40 | 73 |
Subtotal | (negative 43) | 111 | 132 | (negative 64) |
Royal Canadian Mounted Police Pension Fund Account, Table 6.23 | 1 | 500 | 512 | (negative 11) |
Allowance for pension adjustments | 62 | 57 | 131 | (negative 12) |
Subtotal | 63 | 557 | 643 | (negative 23) |
Total pension fund accounts | 5 | 7,415 | 7,418 | 2 |
Total allowance for pension adjustments | 488 | 1,879 | 4,043 | (negative 1,676) |
Net pension benefit liabilities related to government-sponsored funded plans | 493 | 9,294 | 11,461 | (negative 1,674) |
Pension benefit assets related to funded plans sponsored by consolidated Crown corporations and other entities | (negative 2,144) | 92 | 454 | (negative 2,506) |
Net pension benefit liabilities related to funded plans | (negative 1,651) | 9,386 | 11,915 | (negative 4,180) |
Unfunded pension benefits | ||||
Public Service Superannuation Account, Table 6.17 | 93,700 | 3,418 | 5,602 | 91,516 |
Allowance for pension adjustments | 3,419 | 2,807 | 1,314 | 4,912 |
Subtotal | 97,119 | 6,225 | 6,916 | 96,428 |
Canadian Forces Superannuation Account, Table 6.19 | 45,607 | 1,687 | 2,552 | 44,742 |
Allowance for pension adjustments | 3,015 | 1,649 | 623 | 4,041 |
Subtotal | 48,622 | 3,336 | 3,175 | 48,783 |
Royal Canadian Mounted Police Superannuation Account, Table 6.22 | 12,917 | 1,428 | 724 | 13,621 |
Allowance for pension adjustments | 686 | 438 | 1,116 | 8 |
Subtotal | 13,603 | 1,866 | 1,840 | 13,629 |
Members of Parliament Retiring Allowances Account, Table 6.24 | 560 | 35 | 34 | 561 |
Allowance for pension adjustments | 102 | 36 | 4 | 134 |
Subtotal | 662 | 71 | 38 | 695 |
Members of Parliament Retirement Compensation Arrangements Account, Table 6.25 | 203 | 20 | 22 | 201 |
Allowance for pension adjustments | 323 | 29 | – | 352 |
Subtotal | 526 | 49 | 22 | 553 |
Retirement Compensation Arrangements Accounts, Table 6.26 | 2,402 | 247 | 211 | 2,438 |
Allowance for pension adjustments | 1,641 | 175 | 31 | 1,785 |
Subtotal | 4,043 | 422 | 242 | 4,223 |
Supplementary Retirement Benefits Account (Judges), Table 6.27 | 247 | 11 | – | 258 |
Allowance for pension adjustments | 3,105 | 400 | – | 3,505 |
Subtotal | 3,352 | 411 | – | 3,763 |
Supplementary Retirement Benefits Account (Others), Table 6.27 | 1 | – | – | 1 |
Total superannuation accounts | 155,637 | 6,846 | 9,145 | 153,338 |
Total allowance for pension adjustments | 12,291 | 5,534 | 3,088 | 14,737 |
Pension benefit liabilities related to government-sponsored unfunded plans | 167,928 | 12,380 | 12,233 | 168,075 |
Pension benefit liabilities related to unfunded plans sponsored by consolidated Crown corporations and other entities | 99 | 10 | 6 | 103 |
Pension benefit liabilities related to unfunded plans | 168,027 | 12,390 | 12,239 | 168,178 |
Net pension benefit liabilities | 166,376 | 21,776 | 24,154 | 163,998 |
The net pension benefit liabilities were recognized and presented in the Consolidated Statement of Financial Position as follows: | ||||
Public sector pension liabilitiesLink to footnote 1 | 168,782 | 21,684 | 21,870 | 168,596 |
Public sector pension assetsLink to footnote 2 | (negative 2,406) | 92 | 2,284 | (negative 4,598) |
Net pension benefit liabilities | 166,376 | 21,776 | 24,154 | 163,998 |
Table 6.16 presents a summary of transactions in public sector pensions that resulted in charges to expenses. Interest is calculated based on the accrued pension obligations under the various plans. The net interest expense represents interest of $5,680 million ($6,005 million credited in 2019) credited to the superannuation accounts in accordance with the pension legislation, a provision of $5,129 million ($4,841 million in 2019) and interest of $451 million ($442 million in 2019) on the consolidated Crown corporations and other entities' obligations, shown net of $8,576 million ($7,779 million in 2019) in expected return on pension investments.
2020 | 2019 | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Government contributions and otherLink to footnote 3 | Adjustment | Net benefits earned | Actuarial adjustmentsLink to footnote 4 | Costs recorded in previous yearsLink to footnote 5 | Valuation allowance | Actuarial losses (gains) recognized | Pension expense | Net interest expense | Pension expense | Net interest expense | |
Funded pension benefits | |||||||||||
Public Service Pension Fund Account | 2,397 | (negative 126) | 2,271 | – | – | – | (negative 983) | 1,288 | (negative 684) | 966 | (negative 495) |
Canadian Forces Pension Fund Account | 799 | 4 | 803 | 145 | (negative 145) | – | (negative 69) | 734 | (negative 71) | 744 | (negative 29) |
Reserve Force Pension Fund Account | 51 | (negative 14) | 37 | 5 | (negative 5) | – | 1 | 38 | 2 | 24 | (negative 1) |
Royal Canadian Mounted Police Pension Fund Account | 270 | 34 | 304 | – | – | – | (negative 64) | 240 | (negative 44) | 225 | (negative 33) |
Consolidated Crown corporations and other entities | 86 | (negative 11) | 75 | 1 | (negative 1) | 17 | (negative 158) | (negative 66) | (negative 209) | 255 | (negative 181) |
Total funded pension benefits | 3,603 | (negative 113) | 3,490 | 151 | (negative 151) | 17 | (negative 1,273) | 2,234 | (negative 1,006) | 2,214 | (negative 739) |
Unfunded pension benefits | |||||||||||
Public Service Superannuation AccountLink to footnote 6 | 3 | (negative 7) | (negative 4) | – | – | – | 2,807 | 2,803 | 2,104 | 2,535 | 2,449 |
Canadian Forces Superannuation AccountLink to footnote 6 | 2 | (negative 4) | (negative 2) | – | – | – | 1,649 | 1,647 | 1,063 | 1,473 | 1,217 |
Defence Services Pension Continuation Act | 1 | – | 1 | – | – | – | – | 1 | – | 2 | – |
Royal Canadian Mounted Police Superannuation Account | – | (negative 1) | (negative 1) | 956 | (negative 956) | – | 438 | 437 | 312 | 389 | 353 |
Royal Canadian Mounted Police Continuation Act | 6 | – | 6 | – | – | – | – | 6 | – | 7 | – |
Members of Parliament Retiring Allowances Account | 9 | 15 | 24 | – | – | – | 21 | 45 | 14 | 41 | 15 |
Members of Parliament Retirement Compensation Arrangements Account | 7 | 11 | 18 | – | – | – | 13 | 31 | 11 | 27 | 12 |
Retirement Compensation Arrangement Accounts | 93 | 24 | 117 | – | – | – | 100 | 217 | 88 | 179 | 96 |
Supplementary Retirement Benefits Account | 4 | – | 4 | – | – | – | – | 4 | – | 4 | – |
Judges Act | 179 | 95 | 274 | – | – | – | 214 | 488 | 94 | 446 | 102 |
Other (diplomatic services, lieutenant governors, etc.) | 3 | – | 3 | – | – | – | – | 3 | – | 2 | – |
Consolidated Crown corporations and other entities | – | 2 | 2 | – | – | – | 4 | 6 | 4 | 5 | 4 |
Subtotal | 307 | 135 | 442 | 956 | (negative 956) | – | 5,246 | 5,688 | 3,690 | 5,110 | 4,248 |
Contributions from the Judges' plan recorded to revenues | (negative 17) | – | (negative 17) | – | – | – | – | (negative 17) | – | (negative 16) | – |
Total unfunded pension benefits | 290 | 135 | 425 | 956 | (negative 956) | – | 5,246 | 5,671 | 3,690 | 5,094 | 4,248 |
Total reported in the Consolidated Statement of Operations and Accumulated Deficit | 3,893 | 22 | 3,915 | 1,107 | (negative 1,107) | 17 | 3,973 | 7,905 | 2,684 | 7,308 | 3,509 |
Public Service Superannuation Account
This account, established by the Public Service Superannuation Act, is used to record all transactions (contributions, benefit payments, transfers and interest credits) in respect of service accrued by public service members up to March 31, 2000.
2020 | 2019 | |
---|---|---|
Opening balance | 93,700,183,799 | 92,536,360,415 |
Receipts and other credits | ||
Employee contributions | ||
Government employees | 826,359 | 970,947 |
Retired employees | 3,311,300 | 4,560,109 |
Public Service corporation employees | 46,425 | 102,235 |
Employer contributions | ||
Government | 3,461,289 | 4,597,075 |
Public Service corporations | 22,384 | 30,348 |
Actuarial adjustment | – | 3,107,000,000 |
Transfers from other pension funds | 70,680 | 811,542 |
Interest | 3,410,432,517 | 3,592,782,645 |
OtherLink to footnote 7 | – | 655 |
Total receipts and other credits | 3,418,170,954 | 6,710,855,556 |
Subtotal | 97,118,354,753 | 99,247,215,971 |
Payments and other charges | ||
Benefit payments | ||
Annuities | 5,512,288,490 | 5,455,468,734 |
Minimum benefits | 13,821,878 | 14,876,476 |
Pension division payments | 14,494,277 | 16,527,961 |
Pension transfer value payments | 11,887,896 | 10,226,553 |
Return of contributions | ||
Government employees | 37,214 | 158,122 |
Public Service corporation employees | 1,813 | – |
Transfers to other pension funds | 2,749,315 | 3,567,649 |
Administrative expenses | 46,890,327 | 46,206,677 |
Total payments and other charges | 5,602,171,210 | 5,547,032,172 |
Closing balance | 91,516,183,543 | 93,700,183,799 |
Public Service Pension Fund Account
This account is used to record the transactions in respect of service accrued on or after April 1, 2000, under the Public Service Superannuation Act. An amount equal to contributions less benefit payments and other charges is transferred to the PSPIB for investment. The closing balance in this account represents the net cash position prior to the transfer to the PSPIB.
2020 | 2019 | |
---|---|---|
Opening balance | 16,598,579 | 314,775,347 |
Receipts and other credits | ||
Employee contributions | ||
Government employees | 2,409,721,286 | 2,376,806,578 |
Retired employees | 52,795,966 | 51,260,689 |
Public Service corporation employees | 192,703,710 | 199,311,621 |
Employer contributions | ||
Government | 2,397,195,812 | 2,375,589,814 |
Public Service corporations | 182,668,152 | 194,603,113 |
Transfers from other pension funds | 67,132,149 | 56,599,226 |
Total receipts and other credits | 5,302,217,075 | 5,254,171,041 |
Payments and other charges | ||
Benefit payments | ||
Annuities | 2,528,738,856 | 2,255,301,448 |
Minimum benefits | 17,749,633 | 18,908,212 |
Pension division payments | 39,380,048 | 41,588,334 |
Pension transfer value payments | 387,976,907 | 287,919,644 |
Return of contributions | ||
Government employees | 14,346,409 | 11,147,567 |
Public Service corporation employees | 4,059,208 | 4,576,716 |
Transfers to other pension funds | 48,103,462 | 42,850,913 |
Administrative expenses | 56,895,258 | 51,730,323 |
Total payments and other charges | 3,097,249,781 | 2,714,023,157 |
Receipts and other credits less payments and other charges | 2,204,967,294 | 2,540,147,884 |
Transfers to PSPIB | 2,197,350,958 | 2,838,324,652 |
Closing balance | 24,214,915 | 16,598,579 |
Canadian Forces Superannuation Account
This account, established by the Canadian Forces Superannuation Act, is used to record all transactions (contributions, benefit payments, transfers and interest credits) in respect of service accrued by Canadian Armed Forces members up to March 31, 2000.
2020 | 2019 | |
---|---|---|
Opening balance | 45,607,472,272 | 46,356,962,588 |
Receipts and other credits | ||
Contributions from personnel | 2,103,211 | 2,295,691 |
Contributions by the Government | 2,103,211 | 2,295,691 |
Interest | 1,681,327,281 | 1,786,411,646 |
OtherLink to footnote 8 | 1,096,951 | 270,124 |
Total receipts and other credits | 1,686,630,654 | 1,791,273,152 |
Subtotal | 47,294,102,926 | 48,148,235,740 |
Payments and other charges | ||
Benefit payments | ||
Pensions and retiring allowances | 2,512,115,493 | 2,500,576,410 |
Minimum benefits | 569,521 | 357,871 |
Pension division payments | 22,696,098 | 22,572,164 |
Pension transfer value payments | 1,334,167 | 1,660,893 |
Administrative expenses | 15,669,530 | 15,596,130 |
Total payments and other charges | 2,552,384,809 | 2,540,763,468 |
Closing balance | 44,741,718,117 | 45,607,472,272 |
Canadian Forces Pension Fund Account
This account is used to record the transactions in respect of service accrued on or after April 1, 2000, in accordance with Part I of the Canadian Forces Superannuation Act. An amount equal to contributions less benefit payments and other charges is transferred to the PSPIB for investment. The closing balance in this account represents the net cash position prior to the transfer to the PSPIB.
2020 | 2019 | |
---|---|---|
Opening balance | 110,785,906 | 164,762,178 |
Receipts and other credits | ||
Contributions from personnel | 532,100,764 | 541,458,641 |
Contributions by the Government | 799,430,985 | 795,607,851 |
Actuarial adjustment | 145,000,000 | 145,000,000 |
Transfers from other pension funds | 56,547,957 | 68,887,607 |
OtherLink to footnote 9 | 1,286,683 | 173,747 |
Total receipts and other credits | 1,534,366,389 | 1,551,127,846 |
Payments and other charges | ||
Benefit payments | ||
Pensions and retiring allowances | 774,383,487 | 684,683,610 |
Minimum benefits | 1,836,369 | 1,038,703 |
Pension division payments | 46,518,428 | 36,256,577 |
Pension transfer value payments | 214,753,994 | 186,434,101 |
Return of contributions | 1,968,670 | 2,027,083 |
Transfers to other pension funds | 1,906,688 | 1,799,316 |
Administrative expenses | 15,563,339 | 13,998,044 |
Total payments and other charges | 1,056,930,975 | 926,237,434 |
Receipts and other credits less payments and other charges | 477,435,414 | 624,890,412 |
Transfers to PSPIB | 462,171,995 | 678,866,684 |
Closing balance | 126,049,325 | 110,785,906 |
Reserve Force Pension Fund Account
This account is used to record the transactions in respect of service accrued on or after March 1, 2007, in accordance with Part I.1 of the Canadian Forces Superannuation Act. When the closing balance of this account is in a positive net cash position, an amount equal to contributions less benefit payments and other charges is usually transferred to the PSPIB for investment.
2020 | 2019 | |
---|---|---|
Opening balance | (negative 123,565,062) | (negative 83,308,325) |
Receipts and other credits | ||
Contributions from personnel | 22,442,708 | 20,983,502 |
Contributions by the Government | 50,910,434 | 40,748,802 |
Actuarial adjustment | 5,300,000 | 5,300,000 |
Total receipts and other credits | 78,653,142 | 67,032,304 |
Payments and other charges | ||
Benefit payments | ||
Pensions and retiring allowances | 9,963,024 | 9,151,423 |
Minimum benefits | 52,760 | 195,791 |
Pension transfer value payments | 17,080,698 | 21,562,942 |
Return of contributions | 69,735 | 95,017 |
Transfers to other pension funds | 56,547,957 | 68,887,607 |
Administrative expenses | 8,036,625 | 7,396,261 |
Total payments and other charges | 91,750,799 | 107,289,041 |
Closing balance | (negative 136,662,719) | (negative 123,565,062) |
Royal Canadian Mounted Police Superannuation Account
This account, established by the Royal Canadian Mounted Police Superannuation Act, is used to record all transactions (contributions, benefit payments, transfers and interest credits) in respect of service accrued by Royal Canadian Mounted Police members up to March 31, 2000.
2020 | 2019 | |
---|---|---|
Opening balance | 12,916,633,815 | 13,116,767,456 |
Receipts and other credits | ||
Contributions from personnel (current services and arrears) | 357,693 | 493,645 |
Contributions by the Government | 314,550 | 348,738 |
Actuarial adjustment | 956,000,000 | – |
Interest | 470,927,017 | 508,103,714 |
Total receipts and other credits | 1,427,599,260 | 508,946,097 |
Subtotal | 14,344,233,075 | 13,625,713,553 |
Payments and other charges | ||
Benefit payments | ||
Annuities and allowances | 711,720,812 | 698,978,733 |
Cash termination allowance and gratuities | 313,410 | 358,101 |
Pension division payments | 6,226,186 | 4,589,142 |
Pension transfer value payments | 17,513 | 302,988 |
Return of contributions | 309,323 | 17,621 |
Administrative expenses | 4,941,627 | 4,833,153 |
Total payments and other charges | 723,528,871 | 709,079,738 |
Closing balance | 13,620,704,204 | 12,916,633,815 |
Royal Canadian Mounted Police Pension Fund Account
This account is used to record the transactions in respect of service accrued on or after April 1, 2000, under the Royal Canadian Mounted Police Superannuation Act. An amount equal to contributions less benefit payments and other charges is transferred to the PSPIB for investment. The closing balance in this account represents the net cash position prior to the transfer to the PSPIB.
2020 | 2019 | |
---|---|---|
Opening balance | 1,480,904 | 2,690,544 |
Receipts and other credits | ||
Contributions from personnel (current services and arrears) | 220,776,751 | 222,850,535 |
Contributions by the Government | 269,968,417 | 262,313,115 |
Actuarial adjustment | – | 9,000,000 |
Transfers from other pension funds | 9,523,174 | 4,896,742 |
Total receipts and other credits | 500,268,342 | 499,060,392 |
Payments and other charges | ||
Benefit payments | ||
Annuities and allowances | 244,497,074 | 216,577,954 |
Minimum benefits | 1,021,098 | 515,246 |
Pension division payments | 12,149,424 | 11,629,861 |
Pension transfer value payments | 39,402,060 | 35,127,212 |
Return of contributions | ||
Personnel | 317,106 | 220,697 |
Interest | 172,261 | 58,057 |
Transfers to other pension funds | 371,907 | 445,793 |
Administrative expenses | 3,973,449 | 3,653,508 |
Total payments and other charges | 301,904,379 | 268,228,328 |
Receipts and other credits less payments and other charges | 198,363,963 | 230,832,064 |
Transfers to PSPIB | 211,394,953 | 232,041,704 |
Closing balance | (negative 11,550,086) | 1,480,904 |
Members of Parliament Retiring Allowances Account
This account was established by the Members of Parliament Retiring Allowances Act to provide pension benefits to eligible Members of Parliament who contributed to the plan. "Member" means a member of the Senate or the House of Commons. Benefits are also available to eligible survivors or eligible dependent children of Members who served on or after a certain date and contributed under the Act.
2020 | 2019 | |
---|---|---|
Opening balance | 559,955,950 | 557,559,308 |
Receipts and other credits | ||
Members' contributions | ||
Current services | 8,434,314 | 8,004,846 |
Arrears of principal, interest and mortality insurance | 20,002 | 20,865 |
Government contributions (current services) | 8,434,314 | 8,004,846 |
Interest | 17,789,464 | 15,497,108 |
Total receipts and other credits | 34,678,094 | 31,527,665 |
Subtotal | 594,634,044 | 589,086,973 |
Payments and other charges | ||
Benefit payments | ||
Annual allowances | 29,451,936 | 29,047,966 |
Pension division payments | 244,279 | 33,927 |
Return of contributions | ||
Withdrawals | 3,881,217 | 47,499 |
Interest | 102,445 | 1,631 |
Total payments and other charges | 33,679,877 | 29,131,023 |
Closing balance | 560,954,167 | 559,955,950 |
Members of Parliament Retirement Compensation Arrangements Account
This account was established by the Members of Parliament Retiring Allowances Act to provide for benefits in respect of pension credits accrued by Members of Parliament which are not payable out of the Members of Parliament Retiring Allowances Account. Benefits are also available to eligible survivors or eligible dependent children of Members.
2020 | 2019 | |
---|---|---|
Opening balance | 202,643,898 | 142,829,500 |
Receipts and other credits | ||
Members' contributions | ||
Current services | 6,976,832 | 7,037,944 |
Arrears of principal, interest and mortality insurance | 45,517 | 40,472 |
Government contributions (current services) | 6,976,832 | 7,037,944 |
Refundable tax | – | 58,588,621 |
Interest | 6,773,423 | 3,959,231 |
Total receipts and other credits | 20,772,604 | 76,664,212 |
Subtotal | 223,416,502 | 219,493,712 |
Payments and other charges | ||
Benefit payments | ||
Annual allowances | 17,981,308 | 16,829,886 |
Pension division payments | 287,936 | 19,418 |
Return of contributions | ||
Withdrawals | 3,191,829 | – |
Interest | 117,053 | – |
Refundable tax | 814,100 | 510 |
Total payments and other charges | 22,392,226 | 16,849,814 |
Closing balance | 201,024,276 | 202,643,898 |
Retirement Compensation Arrangements Accounts
The Retirement Compensation Arrangements (RCA) Accounts were established by the Special Retirement Arrangements Act to provide supplementary pension benefits to certain federal employees.
The RCA Regulations, No. 1 (RCA No. 1) provides for pension benefits in excess of those permitted under the Income Tax Act for the pensions paid under the Public Service Superannuation Act, the Canadian Forces Superannuation Act and the Royal Canadian Mounted Police Superannuation Act. The RCA No. 1 was created effective December 15, 1994.
The RCA Regulations, No. 2 (RCA No. 2) provides for pension benefits to public service employees who were declared surplus as a result of a three-year early retirement incentive program that ended on March 31, 1998. It pays the difference between an unreduced pension and the reduced pension for early retirement payable from the Public Service Superannuation Account. The RCA No. 2 was created effective April 1, 1995, and is funded entirely by the government.
RCA No. 1 | RCA No. 2 | Total | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Public Service | Canadian Forces | Royal Canadian Mounted Police | Public Service | |||||||
2020 | 2019 | 2020 | 2019 | 2020 | 2019 | 2020 | 2019 | 2020 | 2019 | |
Opening balance | 1,265,638,829 | 1,241,175,803 | 442,574,225 | 430,166,136 | 35,187,370 | 34,456,839 | 659,130,079 | 688,734,759 | 2,402,530,503 | 2,394,533,537 |
Receipts and other credits | ||||||||||
Employee contributions | ||||||||||
Government employees | 17,690,955 | 10,658,710 | 4,985,512 | 3,398,549 | 211,851 | 331,161 | – | – | 22,888,318 | 14,388,420 |
Retired employees | 344,102 | 549,149 | – | – | 2,057 | 764 | – | – | 346,159 | 549,913 |
Public Service corporation employees | 2,600,842 | 2,363,356 | – | – | – | – | – | – | 2,600,842 | 2,363,356 |
Employer contributions | ||||||||||
Government | 66,025,001 | 33,859,345 | 25,647,473 | 18,123,360 | 707,550 | 1,069,921 | – | – | 92,380,024 | 53,052,626 |
Public Service corporations | 8,689,443 | 7,602,054 | – | – | – | – | – | – | 8,689,443 | 7,602,054 |
Transfers from other pension funds | 216,870 | 55,091 | – | – | – | – | – | – | 216,870 | 55,091 |
Refundable tax | – | – | – | – | – | – | 30,456,797 | 28,921,208 | 30,456,797 | 28,921,208 |
Interest | 47,240,725 | 48,511,115 | 16,856,237 | 16,999,413 | 1,304,107 | 1,357,796 | 23,374,139 | 26,271,701 | 88,775,208 | 93,140,025 |
Subtotal | 142,807,938 | 103,598,820 | 47,489,222 | 38,521,322 | 2,225,565 | 2,759,642 | 53,830,936 | 55,192,909 | 246,353,661 | 200,072,693 |
Total | 1,408,446,767 | 1,344,774,623 | 490,063,447 | 468,687,458 | 37,412,935 | 37,216,481 | 712,961,015 | 743,927,668 | 2,648,884,164 | 2,594,606,230 |
Payments and other charges | ||||||||||
Benefit payments | ||||||||||
Annuities | 56,408,899 | 49,076,877 | 10,094,799 | 9,514,294 | 1,559,459 | 1,366,090 | 85,021,755 | 84,797,589 | 153,084,912 | 144,754,850 |
Minimum benefits | 855 | 165,060 | – | – | – | – | – | – | 855 | 165,060 |
Pension division payments | 383,971 | 891,847 | 1,182,524 | 626,341 | 24,290 | – | – | – | 1,590,785 | 1,518,188 |
Pension transfer value payments | 2,267,492 | 865,081 | 1,624,293 | 2,504,578 | 2,649 | 709 | – | – | 3,894,434 | 3,370,368 |
Return of contributions | ||||||||||
Government employees | 35,279 | 3,271 | – | – | – | – | – | – | 35,279 | 3,271 |
Public Service corporation employees | 40,795 | 18,322 | – | – | – | – | – | – | 40,795 | 18,322 |
Transfers to other pension funds | 816,795 | 238,368 | – | – | – | – | – | – | 816,795 | 238,368 |
Refundable tax | 33,702,003 | 27,876,968 | 16,724,673 | 13,468,020 | 448,659 | 662,312 | – | – | 50,875,335 | 42,007,300 |
Total | 93,656,089 | 79,135,794 | 29,626,289 | 26,113,233 | 2,035,057 | 2,029,111 | 85,021,755 | 84,797,589 | 210,339,190 | 192,075,727 |
Closing balance | 1,314,790,678 | 1,265,638,829 | 460,437,158 | 442,574,225 | 35,377,878 | 35,187,370 | 627,939,260 | 659,130,079 | 2,438,544,974 | 2,402,530,503 |
Supplementary Retirement Benefits Account
This account was established by the Supplementary Retirement Benefits Act to provide for pension benefit increases resulting from changes in the Consumer Price Index. The account continues to provide for increased pension benefits resulting from indexation for pensions of federally appointed judges, and recipients of pensions under various continuation acts and other related acts.
Judges | OthersLink to footnote 10 | Total | ||||
---|---|---|---|---|---|---|
2020 | 2019 | 2020 | 2019 | 2020 | 2019 | |
Opening balance | 246,666,011 | 234,358,307 | 967,693 | 897,280 | 247,633,704 | 235,255,587 |
Receipts and other credits | ||||||
Employee contributions | ||||||
Government | 3,995,595 | 3,806,631 | 30,979 | 36,317 | 4,026,574 | 3,842,948 |
Employer contributions | ||||||
Government | 3,995,595 | 3,806,631 | 28,823 | 36,317 | 4,024,418 | 3,842,948 |
Interest | 3,451,490 | 4,694,442 | 14,156 | 19,086 | 3,465,646 | 4,713,528 |
Total receipts and other credits | 11,442,680 | 12,307,704 | 73,958 | 91,720 | 11,516,638 | 12,399,424 |
Subtotal | 258,108,691 | 246,666,011 | 1,041,651 | 989,000 | 259,150,342 | 247,655,011 |
Payments and other charges | ||||||
Annuities | – | – | 28,941 | 21,307 | 28,941 | 21,307 |
Closing balance | 258,108,691 | 246,666,011 | 1,012,710 | 967,693 | 259,121,401 | 247,633,704 |
Allowance for pension adjustments
This account records the accounting adjustments resulting from annual actuarial valuations of public sector pension plans sponsored by the government.
Actuarial losses of $4,127 million ($3,697 million in 2019), due to plan experience and changes in actuarial assumptions, were recognized in this account and increased pension expenses for the year.
An amount of $1,106 million ($3,266 million in 2019) was recorded in this account to offset the amortization of deficiencies charged to the pension fund accounts and superannuation accounts during the year but already accounted for in previous years' expenses or in actuarial gains and losses.
An amount of $31 million was credited ($243 million debited in 2019) from this account and increased (decreased in 2019) pension costs to adjust for the difference between the government contributions and the net cost of benefits earned.
No amount was recorded ($124 million debited in 2019) in this account and pension costs were not adjusted (decreased in 2019) for a past service cost reduction related to a curtailment.
An amount of $5,129 million ($4,841 million credited in 2019) was credited to this account to adjust for the difference between interest based on the accrued pension obligations and interest credited to the superannuation accounts. Also, an amount of $7,920 million ($7,160 million debited in 2019) was debited from this account to record the expected return on the pension investments.
As well, a consolidation adjustment of $21 million was credited ($46 million debited in 2019) from this account and debited (credited in 2019) against personal tax revenues to eliminate the effect of internal transactions resulting from tax amounts debited (credited in 2019) from the RCA accounts that were previously recorded as tax revenues.
The unrecognized net actuarial loss of $38,230 million ($19,178 million in 2019) will be recognized in this account and will affect expenses in future years.
Due to annual actuarial valuations for accounting purposes, the accrued pension obligations of $374,797 million ($345,207 million in 2019) minus the pension assets of $170,166 million ($157,608 million in 2019) were $51,291 million ($31,957 million in 2019) higher than the balance of the pension fund accounts of $2 million ($5 million in 2019) and the superannuation accounts of $153,338 million ($155,637 million in 2019). The excess or shortfall is made up of the following:
(in millions of dollars)
(Shortfall) excess | ||
---|---|---|
2020 | 2019 | |
Public Service Pension Plan | ||
Public Service Superannuation Account | (negative 31,636) | (negative 23,459) |
Public Service Pension Fund | 11,769 | 14,109 |
Retirement Compensation Arrangements | (negative 2,472) | (negative 1,908) |
Total allowance for Public Service Pension Plan | (negative 22,339) | (negative 11,258) |
Canadian Forces Pension Plan | ||
Canadian Forces Superannuation Account | (negative 17,381) | (negative 12,809) |
Canadian Forces Pension Fund | 789 | 1,616 |
Reserve Force Pension Fund | (negative 658) | (negative 439) |
Retirement Compensation Arrangements | (negative 287) | (negative 189) |
Total allowance for Canadian Forces Pension Plan | (negative 17,537) | (negative 11,821) |
Royal Canadian Mounted Police Pension Plan | ||
Royal Canadian Mounted Police Superannuation Account | (negative 4,888) | (negative 4,328) |
Royal Canadian Mounted Police Pension Fund | (negative 88) | 899 |
Retirement Compensation Arrangements | (negative 81) | (negative 43) |
Total allowance for Canadian Mounted Police Pension Plan | (negative 5,057) | (negative 3,472) |
Members of Parliament Pension Plan | ||
Members of Parliament Retiring Allowances | (negative 286) | (negative 190) |
Retirement Compensation Arrangements | (negative 469) | (negative 379) |
Total allowance for Members of Parliament Pension Plan | (negative 755) | (negative 569) |
Pension plan for federally appointed judges | (negative 5,603) | (negative 4,837) |
Total | (negative 51,291) | (negative 31,957) |
Other employee and veteran future benefits
The government and the consolidated Crown corporations and other entities sponsor different types of future benefit plans with varying terms and conditions. The benefits are available to employees and former employees (including military or Royal Canadian Mounted Police members) during or after employment, or upon retirement. Some are considered retirement benefits, whereby benefits are expected to be provided after retirement to employees and their beneficiaries or dependants. Others are considered post-employment benefits, whereby benefits are expected to be paid after employment but before retirement. Benefits for veterans are paid to war veterans, as well as to Canadian Forces retired veterans and Canadian Forces still-serving members. Benefits for members of the Royal Canadian Mounted Police are paid to both current and former members. These are primarily post-employment benefits, but some benefits are also paid during employment to still-serving members. They include disability and associated benefits paid to veterans or Royal Canadian Mounted Police members, or to their beneficiaries and dependants.
The other major future benefits include health care and dental benefits available to retired employees and retired military and Royal Canadian Mounted Police members, accumulated sick leave entitlements and post-employment benefits such as workers' compensation benefits and severance benefits that accumulate.
April 1, 2019 | Receipts and other credits | Payments and other charges | March 31, 2020 | |
---|---|---|---|---|
Veterans' disability and other future benefits | 65,410 | 12,328 | 4,276 | 73,462 |
Royal Canadian Mounted Police disability and other future benefits | 9,510 | 2,397 | 342 | 11,565 |
Public Service Health Care Plan | 28,932 | 2,533 | 429 | 31,036 |
Pensioners' Dental Services Plan | 4,385 | 453 | 108 | 4,730 |
Severance and other benefits | 1,826 | 136 | 208 | 1,754 |
Accumulated sick leave entitlements | 1,834 | 383 | 293 | 1,924 |
Workers' compensation | 1,627 | 108 | 169 | 1,566 |
Consolidated Crown corporations and other entities | 338 | 29 | 26 | 341 |
Total | 113,862 | 18,367 | 5,851 | 126,378 |
All the government and most of the consolidated Crown corporations and other entities' sponsored plans are unfunded. The health care and the dental plans are contributory plans. Retired plan members contribute to the plans to obtain coverage. Therefore the liabilities and costs are shown net of members' contributions. The accrued benefit obligations amount related to these plans is determined actuarially for accounting purposes. As at March 31, the recorded liabilities included the following components:
(in millions of dollars)
2020 | 2019 | |||||
---|---|---|---|---|---|---|
Accrued benefit obligations | Other future benefit assets | Unrecognized net actuarial gain (loss) | Benefits paid after measurement date up to March 31 | Future benefit liabilities | Future benefit liabilities | |
Veterans' disability and other future benefits | 150,845 | – | (negative 77,383) | – | 73,462 | 65,410 |
Royal Canadian Mounted Police disability and other future benefits | 31,948 | – | (negative 20,383) | – | 11,565 | 9,510 |
Public Service Health Care Plan | 36,817 | – | (negative 5,781) | – | 31,036 | 28,932 |
Pensioners' Dental Services Plan | 6,074 | – | (negative 1,344) | – | 4,730 | 4,385 |
Severance and other benefits | 2,101 | – | (negative 347) | – | 1,754 | 1,826 |
Accumulated sick leave entitlements | 2,060 | – | (negative 136) | – | 1,924 | 1,834 |
Workers' compensation | 1,865 | – | (negative 299) | – | 1,566 | 1,627 |
Consolidated Crown corporations and other entities | 310 | (negative 1) | 34 | (negative 2) | 341 | 338 |
Total | 232,020 | (negative 1) | (negative 105,639) | (negative 2) | 126,378 | 113,862 |
The cost of these benefits can accrue either during the service life of employees or upon occurrence of an event generating the liability under the terms of the plans. An interest component is charged to expense based on the average accrued benefit obligation.
During the year, expenses relating to these benefits were as follows:
(in millions of dollars)
2020 | 2019 | |||||
---|---|---|---|---|---|---|
Benefits earned | Actuarial losses (gains) recognized | Net benefit expense | Interest cost | Total | Total | |
Veterans' disability and other future benefits | 4,988 | 5,183 | 10,171 | 2,157 | 12,328 | 9,658 |
Royal Canadian Mounted Police disability and other future benefits | 1,080 | 932 | 2,012 | 385 | 2,397 | 1,824 |
Public Service Health Care Plan | 1,556 | 333 | 1,889 | 644 | 2,533 | 2,170 |
Pensioners' Dental Services Plan | 218 | 133 | 351 | 102 | 453 | 440 |
Severance and other benefits | 65 | 36 | 101 | 35 | 136 | 131 |
Accumulated sick leave entitlements | 351 | (negative 2) | 349 | 32 | 381 | 365 |
Workers' compensation | 58 | 19 | 77 | 31 | 108 | 232 |
Consolidated Crown corporations and other entities | 18 | 2 | 20 | 9 | 29 | 25 |
Total | 8,334 | 6,636 | 14,970 | 3,395 | 18,365 | 14,845 |
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