Mr. Speaker, there are some benefits as far as CPP improvements are concerned. There is greater flexibility and choice for people approaching their retirement years. There is reduced incentive to early retirement, increased incentive for staying longer in the workforce, an improved averaging formula to boost pensions below the max and the voluntary contributions for post-65 claimants allowing for secure pensions to age 70.
This does not amount to a significant increase in security for seniors. In fact, 30% of Canadians are without retirement savings. Clearly more improvements need to be made in the area of pensions. Would the member elaborate on that point?