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What should be clear is what this is not about: the poor. CPP, remember, is an income replacement program, not income support. It’s intended to ensure people have a level of income in retirement that is broadly comparable, adjusting for differences in taxes and living expenses, to what they had in their working lives. Looking after the elderly poor is the job of programs like Old Age Security and the Guaranteed Income Supplement.

And by and large it’s been a success.

Read more from Andrew Coyne …

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Canada Post was facing solvency payments estimated at $1 billion for 2014 alone before receiving the temporary relief.

The federal government, however, is staring down similar pension headaches across its departments, agencies and Crown corporations.

The total unfunded federal public sector pension liability currently sits at more than $151 billion, according to recently tabled public accounts, leaving a huge bill for taxpayers to cover in the future.

“It’s unpaid. It’s $151 billion that hasn’t been funded,” said Alexandre Laurin, associate director of research for the C.D. Howe Institute, a public policy think-tank keeping a close eye on public sector pensions.

“You have to pay it off, so you need budgetary surpluses or higher taxes in the future.”

And there’s another $67 billion in “other employee and veteran future benefits,” bringing the total unfunded liability to approximately $219 billion, according to the public accounts.