An Act to amend the Public Sector Pension Investment Board Act (reduced risk)

This bill was last introduced in the 40th Parliament, 3rd Session, which ended in March 2011.

This bill was previously introduced in the 40th Parliament, 2nd Session.

Sponsor

Wayne Marston  NDP

Introduced as a private member’s bill. (These don’t often become law.)

Status

Introduced, as of April 20, 2009
(This bill did not become law.)

Summary

This is from the published bill. The Library of Parliament often publishes better independent summaries.

This enactment amends the Public Sector Pension Investment Board Act to provide that the Board shall only make investments that have a low risk of loss. The enactment also provides for additional information to be included in the annual report of the Public Sector Pension Investment Board.

Elsewhere

All sorts of information on this bill is available at LEGISinfo, provided by the Library of Parliament. You can also read the full text of the bill.

Public Sector Pension Investment Board ActRoutine Proceedings

April 20th, 2009 / 3:05 p.m.
See context

NDP

Wayne Marston NDP Hamilton East—Stoney Creek, ON

moved for leave to introduce Bill C-361, An Act to amend the Public Sector Pension Investment Board Act (reduced risk).

Mr. Speaker, I am pleased to put before the House today an act to amend the Public Sector Pension Investment Board Act in regard to reduced risk.

I was recently travelling through southwestern Ontario and heard from many seniors and workers who are on the verge of retirement and are very concerned about whether they will have a public pension in place when they retire.

The enactment of the bill would amend the Public Sector Investment Board Act to provide that the board shall only make investments that have a low risk of loss.

It would also enact provisions for additional information to be included in the annual report of public sector pensions for the investment board.

One of the things people said to me was that they were tired of having fund managers treating their retirement savings like chips from a casino. We are going to shine a light on this.

(Motions deemed adopted, bill read the first time and printed)