Thank you, Mr. Chair.
Good morning, ladies and gentlemen. Welcome to the committee.
Clearly, if retirees whose pension funds are taking a substantial hit had known in advance that this would happen, they would have planned their pensions differently and could have probably also contributed to the Registered Retirement Savings Plan.
However, if we look at Nortel's case, for instance, what was the main cause of solvency deficiencies in its retirement fund?