Mr. Speaker, our government's amendments to the Pension Benefits Standards Act in 2010 and 2011 brought Canada's pension regulations in line with international benchmarks and best practices. Therefore, our government has demonstrated a strong commitment to protecting workers and pensioners and has taken concrete action to help them.
These changes, as well as our government's sound economic management, have coincided with significant improvements in the financial status of federally regulated pensions.
According to the Office of the Superintendent of Financial Institutions, federally regulated private pension plan assets increased by 10% between April 1, 2013, and March 31, 2014. Additionally, as of December 31, 2013, solvency positions of federally regulated pensions improved to 0.98%, up from 0.83% at year-end 2012.