Madam Speaker, I thank the member for bringing forward the motion today and for the great work he has been doing concerning the rights of seniors.
We insure our cars, we insure our homes, we have deposit insurance to cover our savings, so why would we not insure our pensions? This makes perfect sense. The insurance system could be comparable to what exists through Canada Deposit Insurance Corporation for bank deposits, RRSPs and tax-free savings accounts. There is a model out there. It is not something just pulled out of the air. There are really good models.
We need to protect pensions by working with the provincial governments to establish pension insurance, but federal leadership is needed. We need federal leadership to work with the provinces to develop pension insurance regime and, as the hon. member said, to ensure workers actually receive the retirements benefits they have earned, even if their employer goes out of business. This makes good sense for Canadians.