Mr. Speaker, the member talked about the clawback and the need for further discussion on what is called the benefit reduction when members reach the age of 65.
He knows very well that members of the forces receive their superannuation pension and at age 60 they can elect to take their Canada pension plan, which is reduced by one-third if they elect to take it earlier. They already have had one-third taken off their Canada pension. They will get to collect, for example, $3,000 and $500 with no deductions. They just pay the taxes on these amounts. When they reach 65 the amount they would have received from Canada pension is deducted from their superannuation, and of course OAS kicks in. I have many documents in my office which show they would have less take home money at age 65 than they would have at age 64. There is definitely a clawback in this case. In some cases a veteran may receive $17 more if all the taxes and everything else are included.
The men and women of our services live extraordinary lives. They move from place to place; we have heard the term army brats. Members' spouses do not get a chance to work on a full time basis. These men and women do not get the opportunity to purchase a home and earn equity. When they retire, they do not have the investments or other pensions that we in normal jobs have. They are asking for the restoration of their financial dignity. They want to keep more of their own money at age 65.
The member is correct that this is a complicated issue. That is why we are encouraging the government to look at this very seriously and make recommendations so that we can give more financial dignity to our veterans.