Mr. Speaker, we have a privately funded plan that already exists in our country. I think this is where the member is looking at absolute jurisdictions like Chile. I have read some of those reports. However, we have a three tiered system in Canada. We have the basic social benefit, the Canada pension plan system and the tax assisted RRSP system.
Our RRSP system is one of the most generous in the world. We have total limits of up to $13,500 of premium contributions as a tax assisted support for private pensions. In the United States that same deduction is only $2,000. The reality is we already have a privately funded system in the sense of a voluntary system through the registered retirement savings plan.
What we are talking about are those other two tiers, the ones that the Reform Party keeps wanting to forget about, the people on lower incomes who are not able to take advantage of those RRSP levels. We are talking about the basic integrity of our pension plan system. The people of Canada told me and my colleagues they want to keep it, and so we are.