Absolutely, and I agree with you. But I think there needs to be incentive to allow Canadians to think more positively about their pensions, to actually actively participate in saving for their future, in putting that nest egg away. We need to change the thinking and actually have them think about their pensions, have them think about that time period in their lives in their future by incentivizing, not replacing the collective pension at all, but by perhaps instituting a more progressive universal system where there would be additional advantages for lower-income Canadians to save for their future. And perhaps we could provide a matched savings incentive for lower-income Canadians so that they would have a greater reason to save for their future, to actually turn their heads into thinking about saving for their future.
Nowadays there's a very different way of thinking. When you are in your twenties or thirties, you're now thinking about financing debt. You are never thinking about saving for your future. Matched savings incentives give people an incentivized way of putting money away or a nest egg away. We can look at the debt rates today in this country, and they're escalating.
If we're looking at pensions in the future. I saw a statistic recently that says that 25% of Canadians have absolutely no savings for their retirement. That's incredible. That's shocking.
This might be a way to actually provide some sort of incentivized saving mechanism to allow people to start thinking about their retirement and start being actively involved in saving for their retirement. It doesn't mean getting rid of the collective system at all, but it means instituting more of a progressive universal system where people with lower incomes would actually gain a greater benefit.