Finance Committee on June 9th, 2022

[John Graham]

As we think about CPP and CPP Investments, there are several benefits worth highlighting. One is the mutualization of the risk across the country and the ability to have risk sharing. There's diversification across the Canadian economy, and this provides stability over the long term.

As was already highlighted, the CPP is a pension plan that provides defined benefits over time. It also provides one of the few real checks and balances against longevity risk. As I mentioned earlier, the additional CPP is really just starting now—it's very early. We certainly believe the value will become very evident over time, as it becomes a bigger part of people's retirement.

[The Chair, Liberal, Peter Fonseca]

Thank you, MP Chatel.

[Sophie Chatel, Liberal, Pontiac, QC]

Thank you.

[The Chair, Liberal, Peter Fonseca]

We've reached the time.

Now there is an opportunity to thank Mr. Graham and Mr. Leduc from the Canada Pension Plan Investment Board. We thank you on behalf of the 21 million Canadians who contribute to the pension plan and for the investments you put those contributions into.

As MP Ste-Marie mentioned, I want to thank the analysts. They do a great job for us with briefing notes, questions and so on, which helps us. I'd also like to thank the clerk, the entire finance committee and everybody here. We really thank you for coming before us.

I'm new to this role, but I understand you do this annually. I don't know if we always do it at the same time of year. The Clerk says more or less, so we look forward to seeing you in a year's time, when you'll update us on how the CPPIB is doing.

Thank you.

[John Graham]

Thank you.

[The Chair, Liberal, Peter Fonseca]

Members, we're going to suspend now. We're going to go in camera, so we'll give the remote members an opportunity to transition to the other Zoom.

Thank you.

[Proceedings continue in camera]