An Act to amend the Pension Benefits Standards Act, 1985

Sponsor

Bill Morneau  Liberal

Status

Second reading (House), as of Oct. 19, 2016

Subscribe to a feed (what's a feed?) of speeches and votes in the House related to Bill C-27.

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 provide a framework for the establishment, administration and supervision of target benefit plans. It also amends the Act to permit pension plan administrators to purchase immediate or deferred life annuities for former members or survivors so as to satisfy an obligation to provide pension benefits if the obligation arises from a defined benefit provision.

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.

PensionsOral Questions

November 1st, 2017 / 2:40 p.m.
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NDP

Karine Trudel NDP Jonquière, QC

Mr. Speaker, the NDP and the unions have sounded the alarm regarding Bill C-27, a bill that puts the Liberals' rich corporate friends first, ahead of our workers and pensioners.

The risk associated with pensions is going to shift from employers to employees. Today my colleague is going to move a motion calling for the withdrawal of that bill, which is the right thing to do.

The Prime Minister is fond of saying that he is working for the middle class.

Will he do right by our workers and pensioners and withdraw Bill C-27?

EthicsOral Questions

November 1st, 2017 / 2:25 p.m.
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NDP

Guy Caron NDP Rimouski-Neigette—Témiscouata—Les Basques, QC

Mr. Speaker, I would like to point out that during the Senate expense scandal in 2013 the current Prime Minister tweeted, “Conservative ethics abuses have shaken Canadians' faith in Parliament. It's time to #raisethebar on accountability”.

After the cash for access scandal, the investigation into the Prime Minister's vacation on the Aga Khan's private island, and the scandal involving his finance minister and Bill C-27, does the Prime Minister still believe that he did “#raisethebar” on accountability?

EthicsOral Questions

November 1st, 2017 / 2:25 p.m.
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Regina—Qu'Appelle Saskatchewan

Conservative

Andrew Scheer ConservativeLeader of the Opposition

Mr. Speaker, the Prime Minister keeps claiming the Minister of Finance was not in a conflict of interest. We now know that assertion is not true.

However, questions still remain regarding Bill C-27, a bill that could directly benefit the finance minister's family business.

Can the Prime Minister tell us whether the Minister of Finance met with the Conflict of Interest and Ethics Commissioner before tabling Bill C-27 in the House?

EthicsOral Questions

October 31st, 2017 / 2:40 p.m.
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Conservative

Mark Strahl Conservative Chilliwack—Hope, BC

Mr. Speaker, it is shocking that the finance minister cannot see the difference between a member of Parliament owning shares and a member of cabinet who owned pension shares and advocated for and introduced Bill C-27, which is pension reform legislation. It is a completely different story. He is the one in the conflict of interest. No one on this side has introduced legislation that would put us in a conflict of interest.

Will the finance minister come clean and tell Canadians what else he is hiding in 2070689 Ontario Ltd.?

EthicsOral Questions

October 30th, 2017 / 2:40 p.m.
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Conservative

John Brassard Conservative Barrie—Innisfil, ON

Mr. Speaker, it is clear that the minister sought no advice from Ms. Dawson when he was involved and introduced Bill C-27.

The minister would have us believe that everything is all right, that he has followed all the rules, and disclosed everything to the Ethics Commissioner. Well, she would not be investigating the minister if that were the case.

Either the minister failed to disclose all of his assets to the Ethics Commissioner or, what is becoming increasingly clear, he willfully and knowingly ignored her advice. Which is it?

EthicsOral Questions

October 30th, 2017 / 2:35 p.m.
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Conservative

John Brassard Conservative Barrie—Innisfil, ON

Mr. Speaker, the minister will have to donate $300,000 that he has made today, and $10,000 since question period started to charity.

In fact, the day after Bill C-27 was introduced, shares in Morneau Shepell rose sharply by 5%. By his own admission, the Minister of Finance has made $5.5 million on his Morneau Shepell stock alone since he was elected. The Ethics Commissioner is concerned enough that she is now investigating the minister's involvement in Bill C-27.

How could the minister betray Canadians like this for his own financial gain and that of his family business?

EthicsOral Questions

October 30th, 2017 / 2:35 p.m.
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Conservative

Maxime Bernier Conservative Beauce, QC

Mr. Speaker, we have repeatedly raised our concerns regarding the Minister of Finance and his sponsorship of Bill C-27. We recently learned that the Conflict of Interest and Ethics Commissioner has the same concerns. She is concerned because the Minister of Finance did not recuse himself from discussions on Bill C-27. My question is simple. Will the Minister of Finance admit that he is in a conflict of interest and what is he hiding from Canadians?

EthicsOral Questions

October 30th, 2017 / 2:25 p.m.
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NDP

Guy Caron NDP Rimouski-Neigette—Témiscouata—Les Basques, QC

Mr. Speaker, last week, the Conflict of Interest and Ethics Commissioner wrote to us to say that she too had concerns about the fact that the Minister of Finance is sponsoring Bill C-27, a bill that benefits Morneau Shepell. It would be as if the Minister of Natural Resources owned an oil or gas company. That minister would be in a conflict of interest.

My question is this: Could the ministers identified by the Conflict of Interest and Ethics Commissioner also be in a conflict of interest?

EthicsOral Questions

October 27th, 2017 / 11:40 a.m.
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Louis-Hébert Québec

Liberal

Joël Lightbound LiberalParliamentary Secretary to the Minister of Finance

Madam Speaker, I know they like alternative facts on the other side of the House. They talk about the share value in Morneau Shepell. Two weeks after Bill C-27 was introduced, the share price was down 12% from what it was when the bill was introduced. They can keep playing politics. We will keep working for Canadians on this side of the House.

EthicsOral Questions

October 27th, 2017 / 11:40 a.m.
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Conservative

Jamie Schmale Conservative Haliburton—Kawartha Lakes—Brock, ON

Madam Speaker, the Minister of Finance introduced Bill C-27 to amend the Pension Benefits Standards Act. Immediately afterward, his shares at Morneau Shepell jumped by $2 million. We all know he forgot about his fancy villa in France, but surely he did not forget about the company he has a million shares in, the company his father founded, which just so happens to be a pension management company. Stocks go up; credibility goes right down. When, with the Ethics Commissioner investigating the minister's actions, can the minister inform this House what other investigations he is facing?

EthicsOral Questions

October 27th, 2017 / 11:30 a.m.
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Conservative

Kelly Block Conservative Carlton Trail—Eagle Creek, SK

Madam Speaker, the Ethics Commissioner is investigating the finance minister for his involvement in Bill C-27, where he directly benefited from his holdings in Morneau Shepell. We know that those holdings are in a numbered company in Alberta. We also know that he owns several other numbered companies. Will the finance minister come clean and tell the House what else he holds in those other numbered companies?

EthicsOral Questions

October 27th, 2017 / 11:20 a.m.
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Conservative

Alain Rayes Conservative Richmond—Arthabaska, QC

Madam Speaker, the Ethics Commissioner has not even completed her investigation into the Prime Minister's taxpayer-funded Christmas vacation yet, and now we learn that another ethics investigation is being opened, this time against the Minister of Finance.

We know that through his ties to Morneau Shepell, the minister is benefiting from policy decisions made by himself and his own department.

Will he finally admit that he never disclosed his conflict of interest during the discussions on Bill C-27?

EthicsOral Questions

October 27th, 2017 / 11:15 a.m.
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Conservative

Mark Strahl Conservative Chilliwack—Hope, BC

Madam Speaker, for weeks, the finance minister has been telling Canadians that he has revealed all of his financial assets to the Ethics Commissioner. For weeks, he has been telling Canadians that he has followed the advice of the Ethics Commissioner on avoiding conflicts of interest. However, yesterday Canadians learned that the Ethics Commissioner has concerns about the finance minister's conduct related to Bill C-27.

If the Ethics Commissioner has concerns, that means the minister either failed to disclose all his assets to her or has ignored her advice on avoiding conflicts of interest. Which is it?

EthicsOral Questions

October 26th, 2017 / 2:30 p.m.
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Conservative

Maxime Bernier Conservative Beauce, QC

Mr. Speaker, the Minister of Finance recently told us that he recused himself only twice from matters in which he had personal conflicts of interest. The problem is that Canadians are having a hard time believing him because he has several conflicts of interest. First, there was the introduction of Bill C-27, which he sponsored, then his many numbered companies with investments in all kinds of sectors, and there are also his ties to Bombardier.

In order to deal with all of this, could the minister disclose all his assets so that Canadians can determine the extent of his conflicts of interest?

EthicsOral Questions

October 26th, 2017 / 2:25 p.m.
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NDP

Guy Caron NDP Rimouski-Neigette—Témiscouata—Les Basques, QC

Mr. Speaker, the minister keeps talking about a higher standard of ethics. Let us see how it fairs.

In 2002, the national defence minister had to step down from the Liberal cabinet for giving his ex-girlfriend a $36,500 contract. That same year, the solicitor general had to step down from the Liberal cabinet for awarding a $6.5-million contract to a college presided by his brother.

Shares in Morneau Shepell, including the one million or two million shares held by the Minister of Finance, went up by nearly 5% after Bill C-27 was introduced.

How can he deny that this is a conflict of interest? What is his definition of—