Mr. Speaker, if I may have your indulgence for a second to allow my hon. colleague for Timmins—James Bay to hear what the bureaucrats have said about this.
The projected accrued benefit actuarial cost method...was used to determine the current service cost and actuarial liability.
The actuarial liability with respect to participants corresponds to the value, discounted in accordance with the actuarial assumptions, of all future payable benefits accrued as at the valuation date in respect of all previous service at that date. For pensioners and survivors, the actuarial liability corresponds to the value, discounted in accordance with the actuarial assumptions, of future payable benefits.
Is there anyone in the House who understands the words that just came out of my mouth? No, but 96,000 members of the military know exactly what they mean. They see the clawback. They see the deduction. They make less money at age 65 than they did before. That is simply wrong.