Bill C-26 (Historical)

An Act to amend the Canada Pension Plan, the Canada Pension Plan Investment Board Act and the Income Tax Act

Part 1 of this enactment amends the Canada Pension Plan to, among other things,
(a) increase the amount of the retirement pension, as well as the survivor’s and disability pensions and the post-retirement benefit, subject to the amount of additional contributions made and the number of years over which those contributions are made;
(b) increase the maximum level of pensionable earnings by 14% as of 2025;
(c) provide for the making of additional contributions, beginning in 2019;
(d) provide for the creation of the Additional Canada Pension Plan Account and the accounting of funds in relation to it; and
(e) include the additional contributions and increased benefits in the financial review provisions of the Act and authorize the Governor in Council to make regulations in relation to those provisions.
This Part also amends the Canada Pension Plan Investment Board Act to provide for the transfer of funds between the Investment Board and the Additional Canada Pension Plan Account and to provide for the preparation of financial statements in relation to amounts managed by the Investment Board in relation to the additional contributions and increased benefits.
Part 2 makes related amendments to the Income Tax Act to increase the Working Income Tax Benefit and to provide a deduction for additional employee contributions.

Canada Pension Plan

[The Speaker, Geoff Regan]

All those in favour of the amendment to the amendment will please say yea.

[Some hon. members]

Yea.

[The Speaker, Geoff Regan]

All those opposed will please say nay.

[Some hon. members]

Nay.

[The Speaker, Geoff Regan]

In my opinion the nays have it.

And five or more members having risen:

Call in the members.

[Andrew Leslie, Liberal, Orléans, ON]

Mr. Speaker, I request that the recorded division on the amendment to the amendment at second reading of Bill C-26 be deferred until the expiry of the time provided for oral questions tomorrow, November 15.

[Gord Brown, Conservative, Leeds—Grenville—Thousand Islands and Rideau Lakes, ON]

Mr. Speaker, I request that you further defer the vote to the end of government orders tomorrow, November 15.

[The Speaker, Geoff Regan]

Therefore the vote is deferred until the end of government orders tomorrow.

Bill C-26—Notice of time allocation motion

[Bardish Chagger, Liberal, Leader of the Government in the House of Commons and Minister of Small Business and Tourism]

Mr. Speaker, I regret to inform the House that an agreement could not be reached under the provisions of Standing Orders 78(1) or 78(2) with respect to the second reading stage of Bill C-26, an act to amend the Canada Pension Plan, the Canada Pension Plan Investment Board Act and the Income Tax Act.

Under the provisions of Standing Order 78(3), I give notice that a minister of the Crown will propose at the next sitting a motion to allot a specific number of days or hours for the consideration and disposal of proceedings at the said stage.

The House resumed from November 14 consideration of the motion that Bill C-26, An Act to amend the Canada Pension Plan, the Canada Pension Plan Investment Board Act and the Income Tax Act, be read the second time and referred to a committee, of the amendment and of the amendment to the amendment.

Canada Pension Plan

[The Speaker, Geoff Regan]

The House will now proceed to the taking of the deferred recorded division on the amendment to the amendment.

(The House divided on the amendment to the amendment, which was negatived on the following division:)

Vote #149

[The Speaker, Geoff Regan]

I declare the amendment to the amendment defeated.

I wish to inform the House that, because of the delay, there will be no private members' business hour today. Accordingly, the order will be rescheduled for another sitting.

Bill C-26—Time Allocation Motion

[Bardish Chagger, Liberal, Leader of the Government in the House of Commons and Minister of Small Business and Tourism]

moved:

That, in relation to Bill C-26, An Act to amend the Canada Pension Plan, the Canada Pension Plan Investment Board Act and the Income Tax Act, not more than one further sitting day shall be allotted to the consideration at second reading stage of the bill;

and

That, 15 minutes before the expiry of the time provided for government orders on the day allotted to the consideration at second reading stage of the said bill, any proceedings before the House shall be interrupted, if required for the purpose of this order, and, in turn, every question necessary for the disposal of the said stage of the bill shall be put forthwith and successively, without further debate or amendment.

[The Speaker, Geoff Regan]

Pursuant to Standing Order 67.1, there will now be a 30-minute question period.

I invite hon. members who wish to ask questions to rise in their place so the Chair has some idea of the number of members who wish to participate in this question period.