Thank you, Mr. Chair.
I'm here to speak to you today about the proposals contained in clauses 157 to 159. These clauses propose to increase a surplus limit set out in the legislation governing the Canadian Armed Forces, the public service and the Royal Canadian Mounted Police pension plans from 10% to 25% of the amount of liability.
These amendments will enable the Government of Canada to build a larger surplus cushion in each of its pension funds and thereby reduce the risk of future funding deficiencies. They relate to the manner in which the Government of Canada funds its pension obligations and demonstrates sound financial stewardship. They do not impact the benefits payable to plan members, the cost of the plans or the Government of Canada's pension liabilities.
That concludes our overview of this division. We'd be happy to answer any questions you may have.