Mr. Speaker, the issue before us concerns the federal employees' pension plan. It is estimated that there is a surplus of about $30 billion.
From time to time we should draw wisdom from the media. I have in my hand an editorial from the Toronto Star dated April 26, 1999. I could not do better than to quote profusely from this editorial.
What, for example, is the nature of the federal employees' plan? What is the amount they contribute from their earnings? They contribute a maximum of 7.5% of their earnings to this plan. Apparently it is a plan that is acceptable to them and it is indeed a very good plan.
What is the duty of the federal government to this plan?