Madam Speaker, the point I was trying to make on this is that Canadians from coast to coast to coast invest the most valuable resource we all have, which is time and commitment. When it comes to the work environment, that sacrifice is often made because of the benefits or contributions that are being made toward things like a pension.
I do not think there is anyone in the House who would try to devalue or take away from the importance of pensions. We have, virtually since forming government back in 2015, in many ways taken a look at how we can support Canadians with respect to pensions. It is one of the reasons one of the first actions we took was to reduce the age of eligibility from 67 to 65 for people to collect the OAS. It is one of the reasons we had discussions with all the different stakeholders, specifically our provinces, to deal with the issue of CPP contributions. Unlike the Conservative Party, we see CPP contributions as a pension, for deferring income to once a person retires.
Much like the defined pension plans we are talking about within this legislation, there is an expectation, and that expectation will be met through CPP contributions. When people in the private sector are contributing toward a pension, there is an obligation for the private sector to contribute to that pension, so that after a person has worked a number of years or however long it might be, they will be entitled to receive those benefits. It is a contract, an agreement of faith in which there is a responsibility for private sector pension plans, defined or not, to be able to maintain that commitment. The unfortunate reality of economics and, I would suggest, poor management by different private sector companies, have led to that contract being violated.
The leader of the Conservative Party made reference to Nortel. Nortel is a good way to amplify the issue, and I think that is why there is a great deal of sympathy toward it. We all agree that we should be doing what we can to increase the protection of these pensions. In Nortel's situation, so much money was lost because the corporation did not do its part in terms of maintaining its contributions to a fund when ultimately the company disappeared. The people who were hurt were the workers.
I like to think that over the years, as a parliamentarian, I have been a very strong advocate for workers. Virtually from day one, back in 1988, when I debated late into the evenings on the issue of final offer selection, from that point to walking picket lines to understanding the importance of advocating for workers and always doing what is in their best interest, that is something I have strived for as a parliamentarian. That is why, when we formed government, I was very pleased with some of the first pieces of legislation we brought forward. They were to protect the workers, albeit through the unions. Bill C-4, for example, repealed two pieces of private members' legislation, and it was good that it did.
We can talk about other commitments that have been made even within this debate with regard to the fall economic statement, where we have the labour mobility tax deduction. We have had a great deal of discussion lately with respect to the whole idea of banning replacement workers in strike or lockout situations, and there is a great expectation from me and others that we will be able to move forward on that file.
We have brought in legislation that has passed on pay equity. As the member will know, when we bring in legislation, especially labour legislation, it is critical that an appropriate amount of consultation has been done. I was interested in listening to the leader of the official opposition when he focused his entire discussion on the pension issue. I respect that because that is what the legislation dealt with, virtually from first reading coming into this, so that, when we had the draw, members had the opportunity to look into it and start doing the things they needed to do to feel comfortable voting on the legislation.
Because the member was effective at working with some of her colleagues, she was even able to get it advanced. I applaud her on taking the initiative to make that happen. To me, it shows her genuine attitude in recognizing, first and foremost, that there is a serious and fundamental problem. There is no one inside the House who would not appreciate this, when we get private sector companies operating in bad faith and not financially supporting those pension funds to the degree they should be supported so that, in the case of a collapse, those funds are not there.
I really look forward to tomorrow when we are going to have the vote on the legislation. Based on the comments I hear, I am anticipating that, in all likelihood, the legislation will be passed. I have not personally made my decision on it, but I can say that I am exceptionally sensitive to the needs of pensions. We in Parliament, and politicians, have a fairly good pension and it is guaranteed. We sacrifice a great deal, but no more than what the factory worker puts on the floor. I want the benefits to which the factory worker is entitled to be realized, as I want the pension of the member herself to ultimately be realized.
The issue of pensions is something that, the older we get, the more we want to focus on. From discussions I have had, I think the government needs to move toward ensuring that our way of life is enhanced as much as possible as we grow older. That is why I support many of the measures that we have taken. I am very much intrigued by what is being proposed before us, and I look forward to the actual vote tomorrow.