Mr. Speaker, the Canada pension plan is a key pillar of retirement income for many Canadians.
To head off an approaching fiscal crisis in the plan the Liberal government is increasing payroll taxes by 73%. Many interested parties including the Alberta Chamber of Commerce are convinced the CPP should include an option to invest mandatory contributions into individual retirement savings plans.
At a media conference scheduled for later today I understand the Alberta Chamber of Commerce will call on the Alberta government to immediately commit to a provincial consultative process on options to the CPP.
An increasing percentage of the population is losing faith in the CPP and want the option of opting out in favour of their own mandatory retirement savings account, an option Reform has proposed.