For the future workforce, this of course will given them a better benefit when they retire. The younger people will get the greatest benefit of what this enhancement will provide. Those who have another 10 or 15 years to work will also see an enhancement to their benefit by the time they retire. It will provide greater benefit for Canadians to know that, ultimately, they don't have to live in abject poverty. Of course, we wish the increase had been greater.
The uniqueness of the improvement is that it's universal. It's not targeted, as some would like to suggest, and it includes all Canadians at the end of the day. I think the reality of this is that workplace pensions have not grown significantly in the last two or three decades. As a matter of fact, they're diminishing because of the pressures on workplace pensions, low interest rates, and what have you. I also believe this will bring some stability to workplace pensions because, in many cases, workplace pensions are integrated with the CPP.
On the other hand I think, as Ms. Trask said, we hope when other generations of Canadians become seniors, they don't have to live in poverty in this country. Like me, if you spend a lifetime working.... I'm fortunate because I belong to a workplace pension; I will have a decent pension when I retire. You, as members of Parliament, by the way, don't have to be stressed about what you're going to get. You're going to get a decent pension. I think Canadians are entitled to the same thing because they work just as hard as the rest of us.
I think this is a profound moment in our country, and it needs to be acknowledged. It took a great effort on our part. We spent eight years campaigning on this important change and many Canadians share in this vision that we could do better. I think we are doing better, so again, I want to compliment the government, and I want to compliment our members and our activists across this country who worked extremely hard in the last eight years to convince the provinces and the federal government that this is the right thing to do.
