Thank you, Mr. Chairman.
First I want to thank all the people who made presentations today. In my opinion, that series of presentations has made the greatest contribution to the advancement of our work to date. They were full of nuances, and we see that the subject is starting to be addressed in detail. The intergenerational fairness aspects raised by Ms. Carbonneau must be part of our thinking.
I would ask Mr. Georgetti to talk more about the notion of insurance, which I think is a basic element. Some countries, in particular Japan, Sweden, Switzerland and the United States, are tending toward better insurance of these systems, whereas it's the Netherlands that was mentioned. These countries have managed to avoid this problem through a much more elaborate regulatory structure.
I would like to ask Mr. Georgetti to talk more about his notion of insurance and to say how it could help people reach retirement now. Then I would like to discuss that notion of intergenerational fairness.