Thank you, Ms. McLeod.
It's a reasonable question, no doubt, because I think even Mr. Marston was concerned about how we keep the cost low. We keep the cost low through the scale and design of the fund: simple, straightforward, easy to administer, broad-based, and offered through as many competitors as the superintendent sees fit—to provide a broad-based pension available across any business that is interested in taking these up.
The low cost will be prescribed in the regulations and the regulations will be forthcoming. As I said, I think the worst mistake we could make would be to actually set a maximum management expense ratio, because that would be the default that everyone would go to. But the competitiveness of being offered broadly by a credit union, a financial institution, or an existing fund that's already operating will keep the cost low.