Madam Chair, I would like to ask the Conservative member a question about a situation pertaining to private pension plans. One of my fellow members just asked about an aspect of public pension plans, and now it is time to look at private plans.
For economic reasons, some employers were unable to respect private pension plans either in terms of their contributions or the security of funds. We recently introduced Bill C-290, which asked the House to alter tax credits. The purpose of this bill was to help the employees of two companies in particular, the Jeffrey mine in Asbestos and Atlas Stainless Steels in Sorel.
I would like to understand the government's philosophy with regard to the existing protection for private pension plans. I would also like to know how the government intends to help those who lose money on their pensions.