Madam Speaker, the pooled registered pension plan is a small step that would provide another vehicle for savings. The NDP is quite right in pointing out that it is not an actual pension plan, but it is another savings vehicle.
Another idea that could be implemented to strengthen the option of the pooled registered pension plan and help keep fees competitive would be a voluntary supplemental Canada pension plan that would give Canadians, on a voluntary basis, the opportunity to invest in what is a Canada pension plan fund that is well-managed, well-diversified across asset class, well-diversified geographically and sectorally and also has a very low management fee because of the scale of it.
The Canadian Federation of Independent Business, CFIB, has endorsed and supports the Liberal proposal of a voluntary supplemental CPP, as has the Canadian Association of Retired Persons, CARP. It would not lead to a significant or big increase in payroll premiums at a time of high unemployment, which is the concern the minister has expressed about the New Democrat proposal. However, it would help keep fees low for the financial services companies providing options in terms of pooled registered pension plans.
Will the minister express the government's view on this option that the Liberals have put forward, which could co-exist with the pooled registered pension plan and is endorsed—