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.

Bill C-26—Time Allocation Motion

[Jean-Yves Duclos, Liberal, Québec, QC]

Mr. Speaker, all opinions expressed in the House are important, including those of the opposition, which I personally have the privilege and pleasure of listening to every day. Members of the House have heard from 35 Conservative Party members on this issue. That is slightly more than a third of the Conservative Party caucus.

We look forward to hearing more of their views and those of all members of the House during parliamentary committee debates. We are also very much looking forward to the committee's report, which will lead to third reading of the bill.

[Garnett Genuis, Conservative, Sherwood Park—Fort Saskatchewan, AB]

Mr. Speaker, my colleagues have ably discussed many of the issues around time allocation. I want to ask a question specifically on Bill C-26.

Many people, when they put money aside privately, are not just saving for their retirement, but for interim priorities. They are maybe saving for an education, and then after realizing the value of that education, start to save for a new home, and then realize the value of that home to help them save for retirement. But the government, by restricting the eligible investments people can make in tax-free savings accounts, and by taking more money away from them and saving for them on their behalf, robs people of the ability to use their savings for interim projects, things like education, buying a home, and investing in a business.

Is this not another reason why we are much better off empowering people to save for their own futures, as well as long-term projects? Are we not better off doing it that way than by having a government-knows-best approach?

[Jean-Yves Duclos, Liberal, Québec, QC]

Mr. Speaker, I thank my colleague for giving me the opportunity to talk about very important issues concerning our seniors.

In recent months, we announced two important measures that will have a significant impact on our seniors' well-being. The first was dropping the age of eligibility for old age security down to 65. That will protect 100,000 seniors from extreme poverty, prevent the poverty rate among seniors aged 65 to 66 from climbing from 6% to 17%, and guard the most vulnerable 20% of seniors against a 40% burden.

The second was increasing the guaranteed income supplement, which will help 900,000 seniors across the country by giving them up to $950 more per year. This measure will lift 13,000 seniors out of poverty.

[Jenny Kwan, NDP, Vancouver East, BC]

Mr. Speaker, this is another way of shutting down debate. We call it time allocation in Parliament. In different scenarios, we call it the “guillotine” when they literally shut down debate.

I am a newly elected MP like so many others. We were so happy, honoured, and privileged to take our place in our seats. Part of that privilege is making sure that every single community has a voice in the House of Commons, but with the shutting down of debate, I will not have the opportunity to bring forward my constituents' point of view on this important bill. It impacts seniors and families in all of our communities.

The Liberals said they would do things differently. I was so hoping and looking forward to doing things differently, but now I see a pattern of behaviour that is leading us down a road that shows they are not that different from the former Harper government.

Why is the government doing this? Will the minister consider withdrawing this motion so we can all do our job and bring—

[The Deputy Speaker, Bruce Stanton]

The hon. Minister of Families, Children and Social Development.

[Jean-Yves Duclos, Liberal, Québec, QC]

Mr. Speaker, may I start by congratulating my colleague not only for her election, but also for her passion and the sense of pride she feels, as I and others do, in belonging to this House, the pride that is attached to two things: first, the opportunity to spend fruitful and critical time with members of the House, all of them distinguished; and second, the responsibility to move forward in advancing the interests of all Canadians.

In that context, may I repeat that we are allocating 27% of the total available government business time between September and December to just the second reading of two bills. That is a sign of the importance we attach to this particular bill. We are looking forward to further discussion at the committee stage.

[The Deputy Speaker, Bruce Stanton]

It is my duty to interrupt the proceedings and put forthwith the question necessary to dispose of the motion now before the House.

The vote is on the motion. Is it the pleasure of the House to adopt the motion?

[Some hon. members]

Agreed.

No.

[The Deputy Speaker, Bruce Stanton]

All those in favour of the motion will please say yea.

[Some hon. members]

Yea.

[The Deputy Speaker, Bruce Stanton]

All those opposed will please say nay.

[Some hon. members]

Nay.

[The Deputy Speaker, Bruce Stanton]

In my opinion the yeas have it.

And five or more members having risen:

Call in the members.

(The House divided on the motion, which was agreed to on the following division:)

Vote #153

Canada Pension Plan

[The Speaker, Geoff Regan]

I declare the motion carried.

I wish to inform the House that because of the proceedings on the time allocation motion, government orders will be extended by 30 minutes.