Thank you. I think you asked two questions there.
On the first question, to make sure they're secured--that's what this bill does, I think. This type of bill would make them secured.
The second question, interestingly, is our number two position. We only have three, and that's number two. That's the need to ensure that the promises that are made are realistic and are kept, there are no vacations, money goes into the funds, and they are invested prudently. “Prudently” is bonds or bonds equivalent; they're not in the market.
I know there is a lot of talk that stocks beat bonds. Every time I pick up the paper I see that truism. However, just two weeks ago there was a lovely study that showed that, in fact, over the last 30 years bonds were 9.9 and stocks were 9.4.
Thank God the Teamsters Canada actuary--God bless him, he passed away a few years ago--had done this going back to the 1900s and insisted, for safety reasons, that our pension plan would be in bonds and not in stocks, to the point that we were less than 4% invested in the market.
The only way to guarantee it is to ensure the money is there and is invested prudently and correctly.
As to the final comment, if I may, though employers will always say we pay, this is one thing that economists will agree with, and you can bring a string of them in: at the end of the day, it all belongs to their pay package. The only people in Canada, in my view, who get paid correctly are construction workers. You will hear that artisan construction workers make $50 an hour, $48 an hour in a union setting. What people don't realize is that $10 of that goes to their pension fund, $4 goes to this fund and $3 goes to that.
In reality, that's how we're all paid. We just don't often see it on our paycheque.