Pension Benefits Standards Act, 1985

An Act to amend the Pension Benefits Standards Act, 1985 (disclosure of environmental, social and governance investment factors)

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

Rob Oliphant  Liberal

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

Status

Introduced, as of Sept. 17, 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 Pension Benefits Standards Act, 1985 to require the administrator of a pension plan to make available to the public an annual report in respect of any environmental, social or governance factors that the administrator took into account in the previous fiscal year in the selection, retention or liquidation of investments under the administrator’s responsibility or in the exercise of any rights relating to those investments.

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.

Pension Benefits Standards ActRoutine Proceedings

September 17th, 2009 / 10:10 a.m.
See context

Liberal

Rob Oliphant Liberal Don Valley West, ON

moved for leave to introduce Bill C-441, An Act to amend the Pension Benefits Standards Act, 1985 (disclosure of environmental, social and governance investment factors).

Mr. Speaker, I am pleased this morning to introduce a bill to amend the Pension Benefits Standards Act.

This bill will require public and private pension plan administrators to disclose considerations given to environmental, social and governance factors in the selection, retention and liquidation of investments in their pension funds.

Millions of Canadians have growing concerns about the long-term sustainability of their pension plans. The current financial crisis has led them to a new understanding of risk in pension fund investing. Today risk assessment needs to take into account broader ethical considerations regarding long-term sustainability.

Pension plan members want to know whether their fund managers have asked questions about the companies they invest in, such as how a company treat its employees, where it buys its supplies and from whom, how a company contributes to the community in which it does business, whether its business practices are fair and, most importantly, can the environment, the earth, sustain its business activities.

I would like to thank my colleague, the hon. member for Scarborough—Guildwood, for seconding this bill.

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