Thank you all for joining us this morning.
We appreciate your careful argument and your presentations. I think, however, to be frank, the vote on this bill is largely preordained at this point, barring some very major surprise, so I'll limit myself to one question, about pensions going forward.
I'd like to ask Mr. Georgetti and either Mr. Dale or Mr. Butler the same question, because I believe the president of CPPIB had expressed some interest in some kind of expansion of the Canada Pension Plan. I'd like to try to see where there's a similarity and where there may be a difference between the two. So I have two questions.
If one is talking about an expansion of the Canada Pension Plan, is it the idea that this be voluntary or compulsory? Secondly, if there were to be such an expansion, are we talking about defined benefit or defined contribution? If it's defined benefit, one would then have to ask a further question on what to do about the intergenerational subsidies. If you provide a defined benefit, you give an older person far more than he or she should get actuarially, and thereby ask the younger people to subsidize it or not. If you do a defined contribution, then you don't have that issue.
So is it voluntary or compulsory? Is it a defined benefit or a defined contribution? Can I pose that question to both parties? I think they have their positions on the table.