Debates of June 19th, 2009

Jim Flaherty Minister of Finance

Mr. Speaker, according to the latest available pension plan financial statements, www.osfi-bsif.gc.ca/app/DocRepository/1/eng/reports/osfi/ar0708_e.pdf, there were 1,350 private pension plans registered under the Pension Benefits Standards Act, 1985, PBSA, and supervised by the Office of the Superintendent of Financial Institutions (OSFI). Of those plans, there were 351 defined benefit plans, 904 defined contribution plans and 95 combination plans. These plans covered over 594,000 members, of which 391,000 were in a defined benefit plan, 104,000 in a defined contribution plan and 99,000 in a combination plan. Total assets for these plans were $132 billion, with $109 billion in defined benefit plans, $4 billion in defined contribution plans and $19 billion in combination plans. OSFI regulates approximately 7 percent of pension plans in Canada. The other 93 percent are under provincial regulation, representing 5.2 million members with total assets of $961 billion. 53 percent of federally regulated pension plan assets were invested in equities, 39 percent in debt instruments and 8 percent in diversified and other assets.

In April 2009, OSFI reported, www.osfi-bsif.gc.ca/app/DocRepository/1/eng/media/nr_esr_e.pdf, that the average estimated solvency ratio for federally regulated defined benefit plans was 0.85 in December 2008. Estimated solvency ratios are determined by dividing a plan’s estimated assets by the plan’s estimated liabilities, using assumptions consistent with the plan being terminated. OSFI continues to monitor the funding situation of plans carefully and is taking steps, where necessary, to protect the rights and interests of plan beneficiaries.

The government has taken action to better protect the pensions of working Canadians by making amendments to the Bankruptcy and Insolvency Act and the Companies’ Creditors Arrangement Act that will grant super priority status to outstanding employer and employee pension contributions in both bankruptcy and corporate restructuring. This super-priority status became law in bankruptcy in July 2008.

Given the present extraordinary circumstances affecting private pension plans, the Government took action in Budget 2009, presented to the House of Commons on January 27, 2009, and the 2008 Economic and Fiscal Statement by providing temporary solvency funding relief that will facilitate an orderly return to full funding while protecting the security of benefits. The regulations implementing this temporary relief were pre-published in the Canada Gazette on April 4th.

The federal government also launched public consultations on pension issues in January with the release of a consultation paper (http://www.fin.gc.ca/n08/09-005-eng.asp). As part of the consultation process, the Parliamentary Secretary to the Minister of Finance led public meetings across Canada in March and April. To become better familiarized with this consultation process, please visit http://www.fin.gc.ca/n08/09-018-eng.asp

Linda Duncan Edmonton—Strathcona, AB

Regarding regulations on mercury: (a) what progress has the government made on the development of new regulations to reduce mercury emissions from coal fired electric power generation; and (b) when, specifically, is the government going to issue new regulations on mercury emissions from coal fired electric power generation?

Jim Prentice Minister of the Environment

Mr. Speaker, in response to a) Canada has reduced its mercury emissions by 90% since the 1970s and now accounts for less than 1% of global emissions. Despite this progress, we need to continue taking action because mercury impacts are still evident across the country.

The Government of Canada recognizes the importance of addressing mercury emissions from coal-fired electricity generation as it is the largest contributor to mercury emissions in Canada at 36%.

Under “Turning the Corner”, the government announced its intention to regulate key sources of air pollutant emissions. We are working with industry, provinces and non-government organizations to refine the regulatory framework and specifically to develop national regulations of industrial emissions of key air pollutants. As part of that work, a Canadian regulation addressing mercury from the electricity sector under the Canadian Environmental Protection Act, 1999 is under consideration.

The Government of Canada is committed to demonstrating leadership in ensuring health and environmental impacts of mercury emissions are reduced across Canada.

Canada has several existing international agreements to limit the transport of mercury as a heavy metal and has also committed under the Canada-wide standards for mercury emissions from coal-fired electric power generation plants to seek further international agreements to reduce the effect of mercury pollution in Canada from foreign countries.

At the UN Environment Programme’s Governing Council meeting earlier this year, I along with my counterparts in over 140 countries unanimously agreed to launch negotiations on an international mercury treaty, which some would like to see in place within three years. Given that 80% or more of the mercury deposited in Canada comes from other countries, this treaty is important to Canada.

In addition, the new U.S. administration is also moving forward with new regulations on mercury emissions from coal-fired power generation.

Canada is committed to working with the United States and the international community to further reduce global mercury emissions.

In response to b) A regulation on mercury emissions from coal-fired electric power is under consideration.

Judy Foote Random—Burin—St. George's, NL

With respect to Veterans Affairs Canada Health Benefits: (a) what is the rationale behind the application of a deduction, in most cases of $5, from the repayment of taxi fares for veterans seeking treatment or diagnosis from doctors, hospitals, or health care facilities; (b) what is the total amount Veterans Affairs Canada deducted from all repayment of taxi fares in the 2007-2008 fiscal year; and (c) has a review of this policy been undertaken by Veterans Affairs Canada?

Tom Lukiwski Parliamentary Secretary to the Leader of the Government in the House of Commons

Madam Speaker, if Questions Nos. 172, 174, 196, 204, 205, 210, 216 and 220 could be made orders for returns, these returns would be tabled immediately.

The Acting Speaker Denise Savoie

Is that agreed?

Scott Andrews Avalon, NL

With regard to the Extension of Employment Insurance Benefits, under the Pilot Project 10 and funding for skills and development and training, within the Department of Human Resources and Skills Development Canada (HRSDC): (a) broken down by provincial and territorial jurisdictions, how many clients of HRSDC were receiving EI benefits on February 28, 2009 and out of that number, (i) how many were receiving the benefit of the additional five weeks under Project Pilot 10, in each provincial and territorial jurisdiction, (ii) what were the same statistics by provincial and territorial jurisdiction for March 31, 2009; and (b) broken down by provincial and territorial jurisdiction, (i) how many clients applied and how many clients were approved for training and skills development benefits while receiving regular Employment Insurance benefits from January 1, 2008 to April 30, 2008, (ii) how many clients applied and how many clients were approved for training and skills development benefits while receiving regular Employment Insurance benefits from January 1, 2009 to April 30, 2009?

Tony Martin Sault Ste. Marie, ON

— With regard to funding applications submitted to FedNor, the Federal Economic Development Initiative in Northern Ontario, for each fiscal year from 2004-2005 to 2009-2010: (a) which projects were submitted under each agency program; (b) which project were approved; (c) what amount was allocated to each of these projects; and (d) which projects were not processed?

John Rafferty Thunder Bay—Rainy River, ON

With respect to Expert Panels created by the Minister of Finance since January 2006: (a) which Panels have been so struck, on what date, and which individuals are they composed of; (b) what was the length of duration of each Panel, when and in what locations did each Panel meet; (c) what were the final conclusions and recommendations made by each Panel and have these conclusions been made publicly accessible and, if so, what is the Internet address for each Panel conclusion; and (d) what compensation was paid to each member and what travel, hospitality and miscellaneous expenses were submitted by each panelist, according to each Panel?