Mr. Speaker, the current path of our nation's old age security program is unsustainable. We have all seen the figures. With our aging population, the cost of the program will increase from $36 billion in 2010 to $108 billion in 2030. As a recently released Macdonald-Laurier Institute report states:
Canada will either proactively implement solutions to this coming problem or react, probably in crisis, when the full weight of the costs of an aging society fully confront our society.
Canadians like my parents, Ernie and Mary Zimmer, who are currently receiving old age security, or those who are close to retirement age, will not be affected by our long-term sustainability planning. We will also ensure that those who will be affected, meaning those not yet near retirement, will have plenty of time to plan for their future.
Our government will do what nearly every other advanced country has done. We will ensure that my generation and all future generations have a sustainable public pension system.