Madam Speaker, the market is good and healthy if it has a lot of options, but clearly the option the government has put forward is an opportunity for insurance companies and banks to make money, which is great as this is free enterprise, but it will not help with the real problem.
Liberals have put forward the idea of a supplementary Canada pension plan that would allow people to put away a small amount of money. They can put $50 a month into their supplementary plan and their employers, if they choose, could add a few extra dollars. Homemakers would be able to put a few extra dollars aside to try to catch up for the years they were not in the workforce.
A supplementary Canada pension plan would be voluntary. It would be run by the Canada Pension Plan Investment Board and would not require employers to add contributions, though they could if they wanted to. Otherwise, it would provide a safe vehicle that would be administered with low interest rates, would be well managed and the Canada Pension Plan Investment Board indicated it could administer a supplementary plan with very little problem.