My recommendation is that the committee look at the work that's already been done by provincial governments. Mr. Robertson alluded to it earlier.
When we fund our pensions—and we have to do our calculations for contributions every year—the laws in most provinces require us to do it on a solvency basis. In other words, you have to assume that the company is insolvent, that the pension is wound up, and that it's put into annuities at very low interest rates. That's what we have to fund over five years. We only have five years.
The provincial governments have already been very progressive in putting these laws into place. We don't get to use what the ongoing interest rate is; we have to use a solvency rate. There's a big difference there, so I would urge the committee to look at what the provincial governments have done.
What happened in this particular case that I know you're looking at is a convergence of low interest rates and low markets at the same time. I think that's what caught their pension plan, but overall, pension plans are more healthy now because of the provincial policies that are in place.