Mr. Speaker, that type of language does not working necessarily for moving this legislation forward.
It is actually very interesting that the member talks about this because in n the PRPP there can be third party providers and it can be a variety of different agencies. It could be a bank or a credit union. However, when people sit down with that provider, they will have the option of looking at the types of investments they want to put their PRPP in.
Depending on their age, people may be looking at different risk levels as they invest. For example, people who are a little younger may be willing to sustain a little loss and ride through the markets for the longer term. They may want to take on more risk. People who are getting closer to retirement may say that that is their nest egg and will not want to submit it to a lot of risk. They may put it in a portfolio that will actually have very little risk. That portfolio may not be stock market related, it might be government bonds or other things.
The market does what a market does. It goes up and it goes down. We all know that and we have all seen it. We tell our kids that. To try to predict the market is a very dangerous game.
I think people need to work with a good, proper third party person who is an expert in this field and who can help manage that risk so that they can actually get that value out of their money when they go to retire.