Mr. Speaker, I thank my colleague for his remarks. As always, he is well informed. I would also like to comment on a point that he raised.
It is true that the youth savings rate is alarming. However, we must also recognize that there are young people who are concerned about their retirement and are seriously wondering how to save for a secure retirement.
All we hear these days is that nothing is certain anymore and that we can no longer plan for something 30 years down the road. Young people such as myself who want to put money away for a good retirement hear that the performance of RRSPs is not up to expectations and that those who counted on RRSPs are very disappointed now. In addition, they see that employer pension plans are either falling apart or providing much lower benefits.
For young people who want to plan for their retirement and who are giving it some serious thought, could my colleague explain why the Canada pension plan is secure compared to all the other options available? Also, how could this plan be enhanced, given that it is already in place and it seems to be the most effective?