Madam Speaker, our government has taken a responsible approach to implementing the expansion of CPP. As I said in my statement, it will start in 2019 and increase over time to 2025.
I want to be clear about the expansion. For someone making about $50,000 a year, it would start at $6, and by 2025 it would be $43 extra they would be putting into their retirement. Doing the math, this would be equal to roughly $2 per day that Canadians, people in my riding of Whitby, would be able to securely put into a fund that they would be able to use when they retire, ensuring that they are able to retire with dignity.
Many employers are really looking to this as a way to show their employees they are committed to ensuring that they can retire with dignity, by both contributing a little more to CPP than they currently do.