Final answer:
Employment and Social Development Canada (ESDC) is the government agency that sets the annual maximum insurable earnings related to employment insurance and pensions.
Step-by-step explanation:
The government agency responsible for the establishment of annual maximum insurable earnings is Employment and Social Development Canada (ESDC). This agency oversees various social programs including those related to employment insurance and pensions. In the context of pension insurance, pension plans are a form of estimated social insurance where employers are legally mandated to contribute a portion of the pension funds set aside for their retired employees. These contributions are in place to help ensure that employees receive at least some pension benefits in the event of an employer's bankruptcy and inability to fulfill its pension promises.
Answer: B. Employment and Social Development Canada (ESDC)