Mr. Speaker, many small employers do not have the ability to offer pension plans because of two key things: the fiduciary responsibility associated with managing a pension plan and the administrative costs. Those are two very burdensome issues that employers would face. The PRPP would give small businesses, which would not otherwise be able to offer a large pension plan or participate in a group RRSP, the tool they need.
If we do not implement this, how would my colleague address the fiduciary responsibility and administrative cost burden?
Small businesses are often at a disadvantage from a recruitment perspective because they cannot offer pension plans. Since the member has signalled that he will not vote for this, how would he rectify the recruitment issue that this legislation would address?