Yes, I agree completely.
In the last several months I've been to some academic conferences, seminars, discussions on pension, and it's quite astonished me. That's why I led with the slide from the OECD. When you listen to people in the academic community, and I suppose some of the public sector unions, you would think there's an apocalyptic crisis in Canada with pensions. Then you look at the data. I've pushed this with scholars and asked where the data is that shows the crisis. Because our elders, 65 and older, are the third wealthiest on the planet earth. What are we trying to do? Make them the wealthiest in the world?
So I think we should be going much more slowly and much more prudentially than rushing into it and going for a so-called big CPP mandatory pension that's going to drive up the premiums and reduce discretionary income of Canadians. This will fall especially on young Canadians, on my son and daughter, and militate against their buying a home. Young people don't sit around at 25 saying they can hardly wait to open their RRSP to collect 45 years from now. They want to buy a home. That is their value. It's a very strong value in Canadian society.