Mr. Speaker, unfortunately for the hon. member, here is what the OECD study on pensions, entitled “Pensions at a Glance 2011”, actually said on page 47:
If life expectancy continues to increase, as most forecasts show, then significant increases in the effective retirement age are required to maintain control of the cost of pensions.
That was from the OECD. Those are the facts. The member referred to the OECD and I have told him what it said.
What the hon. member fails to address in his question is how pension funds, which are overwhelmingly invested in successful Canadian businesses as the principle source of income for those funds, would make up the gap if his party, along with the NDP, were to increases taxes on the earnings of those companies? He should indicate to the pensioners across this country why he wants to tax their pensions at a higher rate and how he expects them to make up the difference.