Thank you very much.
I was also looking at some of the stats you provided. You offer that Canadians prefer TFSAs and RRSPs over a bigger CPP, going by the number of responses that favour tax-free savings accounts, RRSPs, personal savings, and other investments, Canada pension plan, voluntary retirement savings plans, or none of the above.
One of the things we don't ask is whether people want to see their companies forced to provide a defined benefit plan and every company forced to offer a pension plan. What we've seen in the course of a number of years is that in 2014 only 38.1% of all employees actually had a registered pension plan in this country.
Unfortunately, if the private sector is unable to cover that or to look for ways to ensure that people retire in a good way so that our seniors don't continue to live in poverty, then I think it falls on the government to ensure the public good. I've seen the stats and I just don't think.... Perhaps they can be onerous, but compared with such other jurisdictions as Singapore, it's only 12.5% and moving up somewhat. I don't think the rates are onerous compared with those in other OECD countries.
Could you comment, from your experience in other jurisdictions around the world, on how competitive we might be?