{"time": "2016-11-29 13:30:00", "attribution": {"en": "Mr. Marco Mendicino (Eglinton\u2014Lawrence, Lib.)", "fr": "M. Marco Mendicino (Eglinton\u2014Lawrence, Lib.)"}, "content": {"en": "

Mr. Speaker, it is an honour and a privilege to rise to speak in support of Bill C-26, an act to amend the Canada Pension Plan, the Canada Pension Plan Investment Board Act and the Income Tax Act.

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Let me outline the purpose of the bill.

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It would, among other things, increase the amount of the retirement pension, as well as the survivor's and disability pensions and the post-retirement benefit, subject to the amount of additional contributions made and the number of years over which those contributions were made. It would increase the maximum level of pensionable earnings by 14% as of 2025. It would provide for the making of additional contributions, beginning in 2019. It would provide for the creation of the additional Canada pension plan account and the accounting of funds in relation to it. It would include the additional contributions and increased benefits in the financial review provisions of the act and authorize the Governor in Council to make regulations in relation to those provisions.

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For the benefit of the House, let me provide a number of reasons why the government has put Bill C-26 forward.

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We are concerned about the long-term retirement security for those Canadians who have worked hard all of their lives and expect, rightfully, that they will enjoy security in their retirement years.

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The fact is that middle-class Canadians are working harder than ever, but many are worried that they will not have put away enough money for their retirement. Fewer and fewer Canadians have workplace pensions based on defined benefits or defined contribution plans to fall back on. To help those Canadians achieve their goal of a safe, secure, and dignified retirement, in the face of these challenges, the Government of Canada is committed to working with the provinces to strengthen the CPP.

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Co-operative efforts as joint stewards of the program led to Canada's Minister of Finance reaching a historic agreement, in principle, on June 20 to enhance the CPP. All of my colleagues on this side of the House were very proud of that accomplishment.

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What would this agreement mean in principle for Canadians?

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Once it is fully in place, the CPP enhancement will increase the maximum CPP retirement by about 50%. Right now, the current maximum is just a little over $13,000, which is not enough by most living standards across the country. In today's dollar terms, the enhanced CPP would represent an increase of nearly $7,000 to a maximum benefit of nearly $20,000. Enhanced benefits will accumulate gradually as individuals pay into the enhanced CPP.

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Young Canadians, and this is a group about which I know all members of the House are concerned, just entering the workforce would see the largest increase in benefits.

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To fund these enhanced benefits, annual CPP contributions would increase modestly over seven years, starting in 2019. For example, an individual with earnings of about $54,000 or $55,000 would contribute about an additional $6 a month in 2019, an amount that should be manageable for most hard-working Canadians. By the end of the seven-year phase-in period, contributions for that same individual earning that same income amount would be about an additional $43 per month.

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To ensure that eligible low-income workers are not financially burdened as a result of the extra contributions, the Government of Canada would enhance the working income tax benefit, an existing benefit that is designed to keep people in the workforce and encourage others to join it.

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Enhancing the CPP will significantly reduce the share of families at risk of not saving enough for retirement and a degree of under-saving.

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The CPP will always be there for Canadians because it helps to fill the gap for those who do not have a workplace pension plan, and it is portable across jobs and provinces.

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Canada's retirement income system provides a balance of mixed public pensions and voluntary savings opportunities to enable Canadians to save for their retirement. The retirement income system is based on three pillars.

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The first is the old age security program, which was altered under the last administration in an attempt to extend the age of eligibility to receive the full benefit and appreciation of that plan to age 67. Again, I am very proud to say that among the first measures this government took was to rescind that extension and restore the old age security program eligibility age to 65, something that was met with great support in my riding and, I dare say, right across this country.

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The CPP and Quebec pension plan is the second pillar. They provide a basic level of earnings replacement for workers. They are financed by contributions from workers, employers, and self-employed individuals.

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The third pillar is a voluntary tax-assisted private savings opportunity. Some examples include registered pension plans; pooled registered pension plans; registered retirement savings plans, commonly known as RRSPs; and tax-free savings accounts. Individuals and their employers may contribute to these savings vehicles on a voluntary basis.

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In addition to saving through the retirement income system, Canadians may also choose to draw upon other financial and non-financial assets for retirement income. These include, for example, financial assets held outside of tax-assisted registered plans, housing equity, and small business equity.

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Let me say a few more words about the current Canada pension plan. The CPP is a contributory public pension plan that provides a basic level of earnings replacement. With these revisions, as I have said before, we would see modest increases gradually over the course of a number of years at a pace that most hard-working Canadians would be able to absorb.

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Let me say a few more words about why it is that we are enhancing the CPP. As we have looked closely at the situation of Canadians as they approach their retirement, we understand that middle-class Canadians are working harder and harder. The Department of Finance has examined whether families nearing retirement are adequately prepared for retirement, based on household income and wealth data from the 2012 Survey of Financial Security. Families are considered to be at risk of under-saving for retirement if their projected after-tax income at retirement does not replace at least 60% of their pre-retirement after-tax family income.

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Although Canada's retirement income system has served many Canadians well, the Department of Finance has estimated that almost 24% of families nearing retirement age are at risk of not having adequate income in retirement to maintain their standard of living. This suggests that roughly 1.1 million families approaching retirement age will not have enough money to maintain their standard of living when they retire; hence the enhancements.

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I will just take my last few moments to indicate to the House that recently the Minister of Finance had the occasion to come to my riding of Eglinton\u2014Lawrence to meet with my constituents to speak personally about this historic achievement. What was most distinguishing about this visit was that we visited with constituents who are on either side of the age continuum. We visited first with seniors to speak about enhancements to the old age security program and to the GIS program. Then we went to visit with high school students at Lawrence Park Collegiate Institute.

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It is truly for them where the focus of this program lies, which is the future, to provide retirement security not only for present day seniors but also for hard-working young Canadians, and I am proud to say that by passing Bill C-26 we will have accomplished that goal. I urge all of my colleagues to support it.

", "fr": "

Monsieur le Pr\u00e9sident, j'ai le plaisir et l'honneur de prendre la parole pour appuyer le projet de loi C-26, Loi modifiant le R\u00e9gime de pensions du Canada, la Loi sur l\u2019Office d\u2019investissement du r\u00e9gime de pensions du Canada et la Loi de l\u2019imp\u00f4t sur le revenu.

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Je me permets d'exposer l'objet du projet de loi.

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Entre autres choses, il augmentera le montant des pensions de retraite, de survivant et d'invalidit\u00e9 ainsi que de la prestation d'apr\u00e8s-retraite, sous r\u00e9serve du montant des cotisations suppl\u00e9mentaires ayant \u00e9t\u00e9 vers\u00e9es et du nombre d\u2019ann\u00e9es au cours desquelles celles-ci l\u2019ont \u00e9t\u00e9. Il augmentera le maximum des gains ouvrant droit \u00e0 pension de 14 % d\u00e8s 2025. Il pr\u00e9voira, \u00e0 compter de 2019, le versement de cotisations suppl\u00e9mentaires. Il pr\u00e9voira la cr\u00e9ation du compte suppl\u00e9mentaire du R\u00e9gime de pensions du Canada et une comptabilit\u00e9 pour les fonds s\u2019y rapportant. Il inclura les cotisations suppl\u00e9mentaires et les prestations bonifi\u00e9es dans les dispositions de cette loi qui portent sur la r\u00e9vision financi\u00e8re et il autorisera le gouverneur en conseil \u00e0 prendre des r\u00e8glements relativement \u00e0 ces dispositions.

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J'exposerai maintenant \u00e0 la Chambre un certain nombre de raisons qui ont motiv\u00e9 la pr\u00e9sentation du projet de loi C-26.

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Nous nous pr\u00e9occupons de la s\u00e9curit\u00e9 \u00e0 long terme du revenu de retraite des Canadiens qui ont travaill\u00e9 fort toute leur vie et qui s'attendent, \u00e0 juste titre, \u00e0 jouir d'une certaine s\u00e9curit\u00e9 \u00e0 la retraite.

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En r\u00e9alit\u00e9, les Canadiens de la classe moyenne travaillent plus fort que jamais, mais beaucoup craignent de ne pas pouvoir \u00e9pargner suffisamment pour leur retraite. De moins en moins de Canadiens peuvent compter sur un r\u00e9gime de pension \u00e0 prestations d\u00e9termin\u00e9es ou \u00e0 cotisations d\u00e9termin\u00e9es offert par leur employeur. Afin d'aider les Canadiens qui \u00e9prouvent ces difficult\u00e9s \u00e0 atteindre leur objectif de prendre leur retraite dans la dignit\u00e9, avec l'assurance d'un revenu suffisant, le gouvernement du Canada a pris l'engagement de collaborer avec les provinces et de bonifier le R\u00e9gime de pensions du Canada.

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Les efforts coop\u00e9ratifs de gestion conjointe du programme ont permis au ministre des Finances de conclure, le 20 juin, une entente de principe historique visant \u00e0 bonifier le RPC. Tous les d\u00e9put\u00e9s de mon parti \u00e9taient tr\u00e8s fiers de cette r\u00e9ussite.

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Que signifie cette entente de principe pour les Canadiens?

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Une fois la bonification termin\u00e9e, les prestations maximales vers\u00e9es \u00e0 la retraite par le RPC seront hauss\u00e9es de 50 %. Actuellement, le maximum est d'un peu plus de 13 000 $, ce qui n'est pas suffisant pour vivre dans la plupart des endroits au pays. En dollars actuels, la hausse des prestations \u00e0 la suite de la bonification du RPC serait de pr\u00e8s de 7 000 $ par ann\u00e9e, et les prestations maximales atteindraient pr\u00e8s de 20 000 $. \u00c0 mesure que les gens verseront leurs cotisations, celles-ci leur donneront droit \u00e0 des prestations de plus en plus bonifi\u00e9es.

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Les jeunes Canadiens, et je sais qu'il s'agit d'un groupe dont les d\u00e9put\u00e9s se soucient, qui font leur entr\u00e9e sur le march\u00e9 du travail sont ceux qui verront les plus grands avantages.

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Pour financer ces prestations bonifi\u00e9es, les cotisations annuelles augmenteront de fa\u00e7on modeste sur sept ans, \u00e0 partir de 2019. Par exemple, une personne gagnant 54 000 $ ou 55 000 $ par an cotiserait environ 6 $ de plus par mois en 2019, un montant qui devrait \u00eatre raisonnable pour la majorit\u00e9 des Canadiens. \u00c0 la fin de la p\u00e9riode de sept ans, les cotisations pour un m\u00eame revenu repr\u00e9senteraient une augmentation de 43 $ par mois.

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Afin de nous assurer de ne pas imposer aux travailleurs \u00e0 faible revenu admissibles un fardeau financier r\u00e9sultant de la hausse des cotisations, le gouvernement du Canada am\u00e9liorerait la Prestation fiscale pour le revenu de travail, un avantage existant qui a \u00e9t\u00e9 con\u00e7u pour garder les gens sur le march\u00e9 du travail et pour encourager les autres \u00e0 l'int\u00e9grer.

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La bonification du RPC r\u00e9duira de fa\u00e7on appr\u00e9ciable la proportion de familles qui risquent de ne pas \u00e9conomiser suffisamment pour la retraite et dont le taux d'\u00e9pargne est insuffisant.

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Le RPC sera toujours l\u00e0 pour les Canadiens, parce qu'il aide \u00e0 combler l'\u00e9cart pour ceux qui ne b\u00e9n\u00e9ficient pas d'un r\u00e9gime de pension offert par un employeur et il est transf\u00e9rable d'un emploi \u00e0 l'autre et d'une province \u00e0 l'autre.

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Le syst\u00e8me de revenu de retraite du Canada procure un \u00e9quilibre entre les pensions publiques et les v\u00e9hicules d'\u00e9pargne volontaire afin de permettre aux Canadiens d'\u00e9conomiser pour leur retraite. Le syst\u00e8me de revenu de retraite repose sur trois piliers.

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Le premier est le programme de la S\u00e9curit\u00e9 de la vieillesse, qui a \u00e9t\u00e9 modifi\u00e9 par le gouvernement pr\u00e9c\u00e9dent qui voulait porter \u00e0 67 ans l'\u00e2ge d'admissibilit\u00e9 aux pleins avantages de ce programme. Encore une fois, je suis tr\u00e8s fier de pouvoir affirmer qu'une des premi\u00e8res mesures prises par l'actuel gouvernement a \u00e9t\u00e9 d'annuler ce report et de r\u00e9tablir l'\u00e2ge d'admissibilit\u00e9 \u00e0 ce programme \u00e0 65 ans. Cette mesure a re\u00e7u un vif soutien dans ma circonscription et, j'oserais affirmer, \u00e0 travers le pays.

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Le RPC et le R\u00e9gime de rentes du Qu\u00e9bec constituent le second pilier. Ils procurent un revenu de remplacement de base pour les travailleurs. Ils sont financ\u00e9s par les cotisations des travailleurs, des employeurs et des travailleurs autonomes.

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Le troisi\u00e8me pilier comprend les dispositifs d'\u00e9pargne-retraite individuels volontaires ouvrant droit \u00e0 une aide fiscale. Il s'agit notamment des r\u00e9gimes de pension agr\u00e9\u00e9s; des r\u00e9gimes de pension agr\u00e9\u00e9s collectifs; des r\u00e9gimes enregistr\u00e9s d'\u00e9pargne-retraite, commun\u00e9ment appel\u00e9s REER; et des comptes d'\u00e9pargne libres d'imp\u00f4t. Les individus et leurs employeurs peuvent contribuer \u00e0 ces instruments d'\u00e9pargne de fa\u00e7on volontaire.

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En plus de r\u00e9aliser des \u00e9conomies gr\u00e2ce au syst\u00e8me de revenu de retraite, les Canadiens peuvent \u00e9galement choisir d\u2019utiliser d\u2019autres actifs financiers et non financiers pour le revenu de retraite. Il s\u2019agit, par exemple, des actifs financiers d\u00e9tenus en dehors des r\u00e9gimes enregistr\u00e9s ouvrant droit \u00e0 une aide fiscale, de la valeur nette d'une propri\u00e9t\u00e9 et des capitaux des petites entreprises.

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J'ajouterai autre chose au sujet du R\u00e9gime de pensions du Canada. Le RPC est un r\u00e9gime de retraite public contributif qui offre un revenu de remplacement de base. Avec ces modifications, comme je l\u2019ai dit auparavant, de modestes augmentations seraient faites graduellement au cours d\u2019un certain nombre d\u2019ann\u00e9es, \u00e0 un rythme que la plupart des travailleurs canadiens trouveraient acceptable.

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J'ajouterai encore quelques mots sur les raisons pour lesquelles nous bonifions le RPC. Comme nous avons examin\u00e9 de pr\u00e8s la situation des Canadiens \u00e0 l\u2019approche de leur retraite, nous comprenons que les Canadiens de la classe moyenne travaillent de plus en plus fort. Le minist\u00e8re des Finances a \u00e9tudi\u00e9 la question de savoir si les familles qui s\u2019approchent de la retraite y sont suffisamment pr\u00e9par\u00e9es, selon les donn\u00e9es sur le revenu et la richesse des m\u00e9nages tir\u00e9es de l\u2019Enqu\u00eate sur la s\u00e9curit\u00e9 financi\u00e8re de 2012. Les familles dont le revenu apr\u00e8s imp\u00f4t projet\u00e9 \u00e0 la retraite ne suffit pas \u00e0 remplacer au moins 60 % de leur revenu pr\u00e9retraite familial apr\u00e8s imp\u00f4t sont \u00e0 risque de ne pas \u00e9conomiser suffisamment pour leur retraite.

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Bien que le syst\u00e8me de revenu de retraite du Canada ait bien servi de nombreux Canadiens, le minist\u00e8re des Finances estime que pr\u00e8s de 24 % des familles approchant l\u2019\u00e2ge de retraite risquent de ne pas avoir un revenu suffisant \u00e0 la retraite pour maintenir leur niveau de vie. Cela laisse croire qu\u2019environ 1,1 million de familles s\u2019approchant de l\u2019\u00e2ge de retraite n\u2019auront pas assez d\u2019argent pour maintenir leur niveau de vie \u00e0 leur retraite; d\u2019o\u00f9 les am\u00e9liorations.

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Je vais prendre les quelques minutes qui me restent pour dire \u00e0 la Chambre que le ministre des Finances a r\u00e9cemment eu l\u2019occasion de se rendre dans ma circonscription, Eglinton\u2014Lawrence, pour rencontrer mes concitoyens et leur parler directement de cette r\u00e9alisation historique. Le plus marquant dans cette visite, c\u2019est que nous avons rencontr\u00e9 des \u00e9lecteurs qui se trouvent aux deux extr\u00e9mit\u00e9s du spectre de l\u2019\u00e2ge. Nous avons d\u2019abord visit\u00e9 des a\u00een\u00e9s pour parler des am\u00e9liorations apport\u00e9es au programme de S\u00e9curit\u00e9 de la vieillesse et au programme de Suppl\u00e9ment de revenu garanti . Ensuite, nous avons rencontr\u00e9 des \u00e9l\u00e8ves du secondaire au Lawrence Park Collegiate Institute.

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Ce programme s\u2019adresse v\u00e9ritablement \u00e0 eux, qui sont l\u2019avenir, dans le but d\u2019assurer la s\u00e9curit\u00e9 de la retraite non seulement des a\u00een\u00e9s d\u2019aujourd\u2019hui, mais aussi des jeunes travailleurs canadiens. Je suis fier de dire qu\u2019en adoptant le projet de loi C-26 nous aurons atteint cet objectif. J\u2019exhorte tous mes coll\u00e8gues \u00e0 l\u2019appuyer.

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