Mr. Speaker, I appreciate the leader of the Green Party bringing the issue of the Canada pension plan up and how it distributes the funds it is ultimately responsible for.
As the government House leader indicated, there are substantial funds there, and we would like to believe we have significant investments in Canada. The member made reference to percentages. I think it might be a little higher than 12%. It is definitely higher than 12% when we factor in that some of the investments, I suspect, and I cannot provide great details on it, would be going into the United States. They might be investments that indirectly, or possibly even directly to a certain degree, end up being investments in Canada too.
The point is that the CPP is a critically important program, if I could use the word program, for all Canadians, because of the contributions that employees and employers contribute so we have the cash flow coming into the CPP, which is entrusted to an arm's-length board to invest those scarce resources in order to be able to pay out when the time comes.
It was interesting when the leader asked why we do not do more here in Canada. I know the CPP has partners from different places in the world where there are joint investments made. I do have confidence in the board.
The leader made reference to potential scandals that have taken place. I am not familiar with the ones she has referenced. Maybe she could provide a bit more information on that. What I would be interested in knowing is if the member ever thought of having it brought to a standing committee, which could look into the possibilities. I think it is important that, as much as possible, we allow the CPP to be at arm's length from government. I do not believe the government should be instructing it on business or investments. The board has the expertise within to make good decisions.
All in all, the CPP has done well with respect to the amount of return on its investments. Any investor will tell us that, at times some investments might not deliver what the expectation is, so there will be some losses. I think we have to look at the bigger and broader picture, which is that hopefully it has ensured that there is a good rate of return. If we were hearing that the rate of return was not in the best interests of the CPP, then I would suggest that we definitely revisit it.
The member said we should see more investment into Canada. I like to think that the CPP is looking at ways it might be able to contribute more with respect to investments here in Canada. However, I would like to look at the government, which has seen the value of the CPP. I think it was Justin Trudeau who, through negotiations with the provinces, finally got them on board so we could get more money going into the CPP. That is so more money would be going out to individuals so that, when they retire, they would receive more money. I think that is a very important aspect of the CPP.