Thank you, Mr. Chair.
Ms. Eng and gentlemen, thank you for the work you have put into this. It was very evident, listening to your presentations, that you looked very closely at this.
Mr. Turnbull in particular, on your reference to defined contribution as opposed to defined benefit, there is a major crisis developing in our country where defined benefit is being offloaded into defined contribution, and at the end of the day the workers are losing.
Two weeks ago Minister Menzies was before us and he talked about the PRPPs and what he thought the value of them was. I would suggest we shouldn't be confused. This is a savings scheme. This is not really a pension plan, as we are used to hearing.
Mr. Wrobel, if you had a contribution of $161 a year and you were making $40,000 a year, that would end up giving you a total input of about $6,500 over a period of 40 years, and that proposal for the Canada Pension Plan would end up giving a person $900 a month. Where in the world could we get an investment like that where we could put it to the advantage of those 12 million Canadians who have nothing now?