Finance committee  I don't know if it's an incentive for plans to fold, because nobody likes folding and nobody likes going bankrupt--

Finance committee  Well, I'll tell you where it's going to create complications. It's going to create complications with the guarantee fund. If the guarantee fund is paying pensions that wouldn't have been paid, then people aren't getting credit that the federal government would have paid, and instead the province is going to have to put up the money, so they'll try to figure out how they can be second payer.

Finance committee  It would limit the scope and it would limit the cost to government because it would apply in far fewer circumstances. I don't think it does much to fix the technical complexity, because if you look... For instance, some Nortel people will settle by transferring lump sums to lock in RRSPs.

Finance committee  Thank you, Mr. Chairman. I am a pension actuary with 30 years of experience. I was asked to read the bill and come along and comment. Having read the bill and having listened to the earlier presentations, I have three concerns. The first is that the bill as drafted doesn't really live up to its intent.