Order, colleagues and witnesses.
This is the 20th meeting of the Standing Committee on Finance. Pursuant to Standing Order 108(2), we are continuing our study on measures to enhance credit availability and the stability of the Canadian financial system. This is the first of three meetings on the specific issue of pensions within that larger study.
We have three organizations and one individual with us this morning: first, the Canadian Institute of Actuaries; second, the Canadian Association of Retired Persons; third, Federally Regulated Employers--Transportation and Communications; and fourth, as an individual, Mr. Leo Kolivakis.
We'll start with the Canadian Institute of Actuaries and move down the line. We have about five minutes allocated for each organization and individual for an opening statement.
Monsieur Lamoureux, I believe you are to begin. Please give us your opening statement.