That is atypical from what I see in the US. In the US, if the pension fund is doing well, that means the politicians offer the government employees unions better benefits, and so all the union members vote for them and since not enough other taxpayers vote against them, we just end up with inflated benefits.
https://www.otpp.com/ https://hoopp.com/
They’re actually overfunded and have been (carefully) increasing benefits.