The Civil Service Pension Plan (CSPP) is a federal program that provides a retirement savings supplement to federal employees.
The CSPP was created by the Liberals in 2008 under the Social Security Act to be used to offset a portion of the cost of federal public sector pensions.
The Liberals introduced a new system in the spring of 2017 that gave employers more flexibility in how they could use the CSPP to offset future benefits.
It also provided an extra $2,000 in tax-free contributions that employees can make to the CSppP to cover future pension costs.
The new system created an incentive for employers to use the additional CSPP funds to offset costs.
Since the Liberals’ election win, the Liberals have repeatedly claimed that the CSP is a private pension fund that is exempt from the federal pension plan.
The Government Accountability Office (GAO) concluded that the Liberal plan was a “ponzi scheme” in its first year.
The GAO also found that the Liberals used the CSRP to pay down debt that had already accumulated.
The Auditor General has since conducted an audit of the Liberals plan.
In his April 2017 report, the Auditor General found that a majority of the CSPs savings were not invested in real estate and other assets, which would have provided a cushion for a potential downturn in the housing market.
Instead, the auditor found that 95 per cent of the savings were allocated to a range of other assets that would have been more profitable for the Liberals to use to invest in real property.
The auditor also noted that the federal government’s plan to spend up to $2 billion on infrastructure projects was not funded.
The Ontario Civil Service Employees’ Union (OCSEU) is calling on the government to investigate the Ontario Pension Plan to see if the Liberals intentionally defrauded its members by concealing the true cost of their pension.
The government has defended the Ontario CSPP system, saying that it is an essential service to support the elderly, including those who are disabled.
The OCSU has said the pension plan is “fair” because it gives employees a lump sum payment that is deducted from their salary every year.
“If there was any fraud, the government could have made a public announcement that it would be withdrawing the funds,” said OCSUE president Joe Hogg.
“Instead, it has remained silent.
The public needs to know what was going on behind the scenes.
We need to know whether there was collusion.”
OCSue said the Ontario pension plan was not exempt from provincial pension plan rules.
Hogg said the OCSUA will continue to call on the Ontario government to disclose any information that it may have on the Liberal scheme.
“The public should know that they are entitled to a fair retirement,” Hogg told the CBC News Network.
The Liberal government has maintained that it will not release any details about the scheme.
The province’s Retirement Benefits Agency has also defended the Liberals pension plan, saying it has a legal obligation to provide the required benefits.
The agency is responsible for collecting and distributing provincial pension benefits to eligible employees.
“A pension is a payment made by a government to its employees,” a spokesperson for the Retirement Benefits Authority said in a statement.
“It is not the responsibility of the government of Ontario to determine the financial status of its employees.”
In his report, GAO concluded that “the CSPP has not provided sufficient assurance to the public that it meets the definition of a pension fund under the pension system legislation.”