Thank you, committee members, Mr. Chair, for your time today.
The Canadian Forces Superannuation Act and the superannuation acts for the RCMP and federal public service have provisions for survivor pensions, pensions that are paid to eligible surviving spouses of contributors or pension plan members. The limitation if plan members marry or begin to cohabit with their spouses after age 60, in the case of the Canadian Armed Forces and RCMP, or after retirement in the case of federal public service, has been important to members of Federal Retirees for decades.
While the legislation is rooted in the turn of the 20th century, it's important to look at how pension legislation and regulations have evolved and to consider changes to the factors that impact pensions, including longevity and workforce participation.
While veterans, retirees and their spouses are affected by this difficulty, as our brief details, this is a complex pension policy matter that requires thorough study and assessment before proceeding with any changes. It is essential to have clear and accurate data to define the extent of this concern and to inform any potential solutions and their potential consequences. The importance of this data cannot be underscored enough. We are talking about hard-earned pensions of serving members of both the Canadian Armed Forces and the RCMP.
Pension plans rely on the balance between contributions and investment returns to fund appropriate levels of benefits. In 2015 and 2017, the federal government committed the ministerial mandate letters to “Eliminate the 'marriage after 60' clawback clause”. In its 2019 budget, the government established a $150-million fund for the veterans' survivors to be administered by Veterans Affairs, to work with the community to identify impacted survivors and to ensure they have adequate financial support. Little information is available on these initiatives. Veterans and their survivors deserve accountability and transparency, and to know what has happened with those funds and what they can expect going forward.
We have noted that veterans' survivors who are affected by this issue are often taken unawares. It is, in our view, clear evidence that retirement preparation and planning and pension communication needs to be comprehensive and clear.
Our brief demonstrates that veterans have been promised that this would be addressed for too long. They deserve answers, and I'm pleased to see that the committee is studying this.
I and my colleagues would be pleased to respond to your questions and to provide further information on the topic. Thank you.