Evidence of meeting #94 for Government Operations and Estimates in the 41st Parliament, 1st Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was plan.
A recording is available from Parliament.
Chief Actuary, Office of the Chief Actuary, Office of the Superintendent of Financial Institutions
According to Mr. Morneau's report, and based on his study, after $40 billion you start to get interesting returns with reasonable expenses.
Conservative
Ron Cannan Conservative Kelowna—Lake Country, BC
Mr. Leroux, I think you said that $64.5 billion is what you're at right now.
Vice-President, Policy Portfolio and Asset Liability Management, Public Sector Pension Investment Board
Yes, it is.
Conservative
Ron Cannan Conservative Kelowna—Lake Country, BC
Following up, maybe somebody can share with the committee the review of the governance structure as defined by the secretariat's oversight role as it relates to the public sector plan. It was recently reviewed. Maybe you could share the findings with the committee.
Director, Pensions and Benefits Sector, Treasury Board Secretariat
I'm sorry. Which report?
Conservative
Ron Cannan Conservative Kelowna—Lake Country, BC
It was the review of the governance structure as defined by the secretariat's oversight role as it relates to the public sector pension plan.
Director, Pensions and Benefits Sector, Treasury Board Secretariat
I believe you're referring to the 2011 report on the—
Director, Pensions and Benefits Sector, Treasury Board Secretariat
Within that report, it was found that the overall governance in and of itself was well managed; however, there needed to be more of the defined roles and responsibilities within Treasury Board. We've currently struck an ADM governance committee to review the governance to enhance it even further.
NDP
The Chair NDP Pat Martin
Ron, I'm afraid your time is.... Could you could wrap it up, please? You're over your time.
Conservative
Ron Cannan Conservative Kelowna—Lake Country, BC
Sure. I just have a question.
In 2011-12, there was an audit of the Treasury Board of Canada Secretariat's management control framework of the public service pension plan. Can you tell us what the Treasury Board has been working on to continue to meet these requirements?
Director, Pensions and Benefits Sector, Treasury Board Secretariat
We're continuing to work at improving the control frameworks. We're currently doing a lot of process mapping and following the recommendations of the audit.
NDP
The Chair NDP Pat Martin
Thank you, Ron.
Thank you, Ms. Gowing.
That actually finishes our time for questioning the panellists.
We want to sincerely thank all the panellists for their presentations. It was very interesting, and it's very helpful for us to get a better grasp of this significant area of statutory spending by the federal government.
Thanks to all of you.
We're going to suspend the meeting briefly and reconvene in camera for five minutes or so to discuss future business.
Thank you again, Ms. Gowing, Monsieur Leroux, and Monsieur Ménard.
[Proceedings continue in camera]