Mr. Speaker, the Canada Pension Plan Investment Board, CPPIB, was established by an act of Parliament in 1997. The mandate of the board is to invest the funds transferred by the CPP in the best interests of CPP plan members, maximizing the rate of return without undue risk of loss. All changes to the CPP require the approval of at least two-thirds of the provinces representing at least two-thirds of the population, plus the federal government.
It should be noted that the CPPIB is neither a department nor an agency of the Crown; rather it is governed by a board of directors of twelve experienced professionals who are appointed by the federal government in consultation with provinces, operating at arm's length from the government. The board is required to be accountable to Canadians, Parliament, and the provinces through regular reports of its activities and the results achieved.
To that effect, the CPPIB recently released its annual report on May 28, 2009 which responds to many questions. The report is available at http://www.cppib.ca/Publications/annual_report.html. Also, a copy of CPPIB code of conduct is available at http://www.cppib.ca/files/PDF/Code_Of_Conduct_Oct01_2008.pdf.