Mr. Speaker, as everyone in this House knows, the board of CPP is very responsive and responsible. The costs of investing amount to about 4% of fees, whereas the RRSP system is about 40% management fees on money saved over a 40-year period.
As I indicated very clearly in my remarks, the CPP in this very difficult economic time experienced a 1% reduction in monetary assets. The stock market had an 11% decline. When we start to compare, people in this country cannot afford to take a hit of 11% on their savings. It is as simple as that.
The pooled registered pension plan guarantees nothing.