Mr. Speaker, we have often raised that point, which our colleague does a great job of defending. The government often responds that pensions are like that all over the world. However, I have some information here about the net pension replacement rate. According to estimates of the Organisation for Economic Co-operation and Development, or OECD, the average net pension replacement rate was 50.7% of pre-retirement income in Canada in 2018, while the average for OECD member countries was 57.6%. The EU average was 63%. That means that seniors in Canada are worse off relative to the average for other OECD countries. I would like to know what my colleague thinks about that.
In the House of Commons on May 11th, 2023. See this statement in context.