moved for leave to introduce Bill C-361, An Act to amend the Public Sector Pension Investment Board Act (reduced risk).
Mr. Speaker, I am pleased to put before the House today an act to amend the Public Sector Pension Investment Board Act in regard to reduced risk.
I was recently travelling through southwestern Ontario and heard from many seniors and workers who are on the verge of retirement and are very concerned about whether they will have a public pension in place when they retire.
The enactment of the bill would amend the Public Sector Investment Board Act to provide that the board shall only make investments that have a low risk of loss.
It would also enact provisions for additional information to be included in the annual report of public sector pensions for the investment board.
One of the things people said to me was that they were tired of having fund managers treating their retirement savings like chips from a casino. We are going to shine a light on this.
(Motions deemed adopted, bill read the first time and printed)