We are definitely keeping our promise because we said we would do this.
What are the existing provisions and what are the provisions we are proposing? It is important for the party across to see where we are presently and where we hope to be with the bill. We are calling for their support because we feel that lowering the minimum age, taking out double dipping, ensuring the accrual rate, will make the pension plan a far better one than it is presently.
We also spoke to the option of coverage. The members across the way have that option available to them and at the same time they are asking for a review of the remuneration on a yearly basis. They are talking about a time period in which they can opt out and they are not really taking the opportunity to use the 60-day period.
Members of the House of Commons will now pay 9 per cent of their salaries per year toward their pension plan, rather than the current rate of 11 per cent. This reduction reflects the reduction in the pension accrual rate.
This is a good bill, a good way in which to proceed, to ensure we meet the needs of the public, to ensure we save taxpayer dollars, to ensure we reform the plan as we said in the red book. We call on all members to support the motions and to ensure the bill gets through the House.