Mr. Speaker, this is an important bill because it provides an opportunity to discuss the content of the bill and some general features that are not included in it but which might be desirable for a number of reasons.
Canadians do place a tremendous value in the content of this measure and a tremendous value in its social significance as to how far and to what extent in detail the Canada pension plan meets our social needs and contributes to the development of what we could call social cohesion.
In the bill it is being proposed that the funds of the Canada pension plan be invested in the private sector stock market and other forms of investment which I imagine is the result of very thorough studies which might have given an indication that this is a safe way of investing the pension fund of Canadians.
I have some reservations about the initiative because investing in financial markets leaves the fund vulnerable to market fluctuations and to the vagaries of the private sector. Therefore I am not quite certain that this is a good idea.
At the present time it seems to me at least that Canada savings bonds have performed a very good role in providing safe investments and some very high returns even at a time when interest rates are very low.
For that reason I urge the committee during its study of the bill to make absolutely certain that this is a desirable measure and perhaps introduce some amendments to the bill that will still maintain a very large window of opportunity for the investments of the Canada pension plan funds in the form of bonds and other public sector investments which, as I mentioned earlier, are safe in the long term and provide some good, solid returns. To sum this up, it seems to me that it would be best not to engage in speculative activities with public funds.
The bill does not deal with very much else. Therefore I feel compelled to raise a question that has been raised on a number of occasions in previous discussions of the Canada pension plan, namely the five year disability clause. This clause causes unnecessary hardship to a number of Canadians. We have direct experience of this with people who visit our constituency office. Beyond that, from the study that we have conducted over the years about cases of Canadians who have been rejected because they could not meet this stringent clause, it would be highly desirable in future amendments of the Canada pension plan to extend the five year clause to seven years. That would seem to be a more reasonable and fairer way of dealing with people who, for instance, may be suffering from some kind of recurring disease but who also have lapses.
I want to refer to a specific case. A person with lupus applied for disability and was denied. The disease then became worse. When the person finally reapplied she was beyond the five year limit and was disqualified for the purposes of the Canada pension disability.
I am sure that hon. members in the House have come across similar cases of a denial of a disability pension because of the five year clause. I hope there will be an opportunity one day soon to improve this particular measure.
I want to say a few words about the Pension Appeals Board. The hearings are presently two years behind. They used to be, at the most, six months behind. When we make inquiries about the delays we are told they are due to the absence of a sufficient number of judges. It would seem only fair that this method be raised here because everyone would agree that Canadians should not be subjected to two years of waiting for a hearing, sometimes under hardships or being incapacitated or injured.
I would like the minister to take note of that problem. It is not something that requires an amendment. It is purely an administrative measure that can be taken by intensifying the search and hiring the appropriate judges. We need to reduce the two year waiting period to roughly six months for Canadians who need to turn to this appeal process. That would seem to be a reasonable request.
An issue that was covered in the media a day or two ago concerned the Canada pension plan apparently discriminating against common-law spouses. Common-law spouses are being refused survivors' pensions if they did not live with their partner at the time of the partner's death. The judgment handed down by the Federal Court of Appeal states that the Canada pension plan does discriminate in these types of cases.
The case referred to in the media concerns Ms. Betty Hodge, a 61 year old Ontario resident, who was denied a CPP survivor's pension after her common-law husband of more than 20 years apparently died in mid-1994.
It seems that we have a number of issues outside the scope of the bill that need attention.
I would conclude by expressing the hope that the government will find it possible in the fall or next year to bring forward a bill that will improve the quality of the Canada pension plan. We are certain of the fact that the Canada pension system is a pillar of Canadian social security, an absolute necessity for the well-being of people who retire and, as I mentioned earlier, it contributes considerably to social cohesion.
I would like to think that the Canada pension plan will receive the constant attention of the Government of Canada so as to improve its features and make it stronger and more relevant to the needs of Canadians. Society changes and evolves and sometimes the cost of living can increase after retirement, especially for some seniors who may have to take care of their grandchildren, and for other reasons.