Thank you very much.
One thing that has come up through our discussion is the need to have a greater level of clarity with respect to some of the technical terms that govern the CPP.
Specifically, there is a term called the “statutory contribution rate” or the “contribution margin”. While I'm sure these are well understood by actuaries, I think most Canadians, including me before doing the appropriate research for this, wouldn't understand what they mean. That's why we need to provide additional clarity.
For that reason, I would like to offer a subamendment. I move that the amendment be amended by adding after proposed subsection 43.1(1) the following:
(1.1) The report prepared under subsection (1) and the report prepared under subsection (3) must include an explanation of the minimum contribution rate required to sustain the Canada Pension Plan, the difference between that rate and the statutory contribution rate, the margin of safety provided by that difference and the circumstances under which future contribution-rate increases could become necessary.