In government pension plans, when you look at accrual rates, the 2% accrual rate is common.
Many municipal plans permit spiking. They use sometimes as few as the last three years of earnings, so you have what they call a sprint to the finish line where you get 50 police officers suddenly working overtime and doing a lot of court duty. In Ontario they show up on the sunshine list with these big incomes way in the six figures. That plays a big role in establishing the retirement rate they're going to enjoy for the next 10, 20, 30, or 40 years.
The Government of Canada, by taking steps to rein in some of these things and provide for a later normal age of retirement, is going a long way to reducing its exposure. It needs to go further, but I think it's been estimated the reforms included in this bill are going to save Canadian taxpayers a couple of billion dollars, perhaps $2.6 billion. We applaud that.