I think this is a good proposal. On the other hand, I don't think people should feel there will be no volatility in that pension plan. The danger is to think that CPP is going to be stable and everything else is going to be volatile. That's not the case. Once you invest in the market—and CPP is in the market, but their history is rather short—you have to be careful. Over time, once you're in the market, you're going to see volatility. People should not believe they are exempt from volatility. Clearly, there is a need to have wider coverage for Canadians' pension plans, because many people do not save.
For the teachers' pension plan, we produce an annual report of 100 pages. How many young people read that? Very few. How many old people? People get interested in pensions when they are above age 50, and that's the danger that I see in a lot of pension plans. The young people are not represented, and as a result the tendency is to improve the benefits, but nobody talks for the young people taking the risk.