Mr. Chair, the NDP is not in favour of this amendment.
First of all, I'm the pensions critic, and I met with the CPP Investment Board people on November 4 and have reviewed their white paper on what they call international directors. We support the clause as it's written because it would permit a maximum of 25%, three of 12, and the clause merely says, “endeavour to ensure that no more than three of the 12 directors...”, and does not require citizenship, as Ms. May has pointed out.
We believe that the CPPIB is a huge success story for Canadians. It's grown from $12 million in 1999, to now $166 billion under management for eight million Canadian contributors and beneficiaries.
We want the best and the brightest to play this role, so we do not support this amendment.