Mr. Speaker, in this bill is a provision with respect to a change in the Canada pension plan. As the Canada pension plan is presently constituted, if people take their pensions early, there is a 0.5% discount per month for every month the pension is taken early. Similarly, if people take it after 65, there is a bonus, so to speak, of 0.5%.
This bill proposes that the numbers be changed, that if people take the pension early, instead of the discount being 0.5%, it would be 0.6%. People could take their pensions somewhere in the order of five years early, which is 60 months, which would represent a fairly significant cut in people's pensions. Similarly, if people take it after age 65, instead of getting a 0.5% bonus, they would get a 0.7% bonus.
I am wondering how the hon. member feels about that, with the provinces and the federal government apparently having negotiated all of this. If people are in need of their pensions early, there is going to be a bigger discount and if they want to postpone collecting their pensions, there is going to be a bigger bonus. I would be interested in knowing how she feels about that particular provision in this bill.