I think we have to examine the past plan. Let us do a comparison. As I said, we only had to be in the House for two terms or six years to be eligible for the MP pension plan under the previous plan, which is five or six times more generous than the average Canadian private sector or public sector plan.
So what is introduced in the new pension plan, the one that is going to correct the problem? We have a pension plan where we are still eligible at age 55. That does not seem to fit with most public and private plans. It certainly is not the case with the old age security. In fact, we are talking about moving that to age 67, since the plan cannot be sustained.
What else do we have? We still have a plan that is two and a half or three times more generous than the average public or private sector plan. It does not fit. It is not acceptable.
What about the future? We know there is an opting out formula in the plan of 60 days for those members who wish to opt out. I am one of the members who wants to, and I certainly will. But that will not apply to future MPs. They do not have that option. Why not? It would seem to me it is a reasonable option to put in there. Anybody who wants to look after their own retirement should be able to do so, but not under this plan as far as future MPs are concerned. They will be obliged to belong. There again is a problem.
We had the minister and some other members stand in this House this morning trying to justify the new plan that is being brought forward. As I said, there are many reasons why the Canadian public is not going to accept this.
All of this is happening at a time when politicians need to show strong leadership in this country. It is a time when we have a record federal debt: $550 billion and growing at the rate of $120 million a day. It is time for MPs to stand up and show leadership. What would that mean? It would mean accepting a plan that is the average of what most Canadians have. Is that too much to expect from leadership in this country? I do not believe it is.
We have Canada's official loyal opposition-what do those members intend to do with this plan? It seems very ironic that those members, with the expressed goal of wanting to opt out of Canada, as they tell us every day in this House, want to opt into the new MPs' pension plan. I do not understand the logic. It must mean that they plan on staying longer than they originally had intended. It seems to me that is a real contradiction. I cannot understand why they would not want to take the opt out formula along with the rest of us in the Reform Party.