I see this as a very serious issue. It's quite true that what happens to retirees when a bankruptcy occurs is absolutely devastating. However, before deciding that they should be preferred creditors in cases of bankruptcy, a great deal more thought has to be given to this.
It is clear to me that this is a serious issue, but we also want to take the time to look at other avenues, as opposed to just believing that this is the magic bullet. There could be significant disadvantages to an approach based solely on the fate of retirees.
In terms of jurisdiction, the whole area of pension funds is closely linked to the tax system. We are currently part and parcel of the federal system. We won't make our constitutional choices within that framework, but we have no choice but to acknowledge that they have always provided guidelines, where the tax system is concerned. In that regard, we cannot just ignore what happens at the federal level. It is an area of great interest to us.