Thank you, Mr. Chair.
This is going to focus on the pension buyback.
Mr. Watson, I'm looking at the AG report and paragraph 1.20 states:
According to the Secretariat, the government could generate significant savings if service buybacks were reviewed. The Secretariat believes that the current method of costing them (based on contributions and interest) does not provide an accurate reflection of the true cost of the liability of the service being bought.
For the RCMP, according to their plan, their service buyback provisions “better reflect the true cost of the liability”.
I'm trying to understand why the two plans are different. Is there an intention to align these? I would think that all buyback plans would be identical. I would appreciate your comments on that.