Mr. Speaker, I stand to speak against the amendments in Group No. 3. Each one is a frivolous amendment and does not help either the interests of the employees or the interests of the taxpayers as a whole.
I remind my colleagues that whenever there is a deficit in the pension plan, it is the responsibility of the government to make up for the shortfall. The government is guaranteeing that the pension fund will remain there for the employees in the public sector.
I do not understand what the fuss is all about. Even what we have before us is pure estimation that the liability of the government will be close to $96 billion over the next number of years, while the pension fund has been estimated at $126 billion. If there is a problem tomorrow, who is going to make up for the shortfall? Is the opposition going to write a cheque to pay for the shortfall?
After all, whose money is it anyway? Who has contributed to the pension fund in the first place? The employees put in up to about 7.5% and the government matches the balance. There is one thing for sure. If the percentage of contribution is 70:30, 60:40 or 50:50, right off the bat one would say if there is a surplus, that surplus should be shared equally by the employees and the employers. That is in theory if that is the case.
Here we have something completely different. We have a situation where the government is absolutely on the hook, no matter what, under any circumstances. If there is a shortfall, if there is a problem, the government will have to come up with the shortfall. It will have to ensure that every public servant is guaranteed to have his or her pension for as long as they are eligible.
That is sound, good economics. That is sound, good social policy on the part of the government to do what it is doing and frankly what it should have done a long time ago.
I agree with those in the community who are asking for clarification in terms of what it is we should do from here on in. That is exactly what Treasury Board is trying to do with this proposed legislation. It is trying to clarify things once and for all so there will be no grey area whatsoever. We know what we have at this point, we clear it out and we start down the road again. As a result of that, everyone will know what his or her responsibilities are. Everyone will know what his or her rights are. We will move forward.
To stand and say that the $30 billion belongs to the employees, I think is being unfair to the taxpayers of the country. They were the ones in the first place who put out the cash, including the employees of the government, including those who are eligible for the pension.
Frankly, if we were to look at the proposal by the minister he has been quite forthcoming and pragmatic in his approach in trying to deal with some of the issues that have not been dealt with over the years.
To say that we have something which in our estimate could be $30 billion and we have to jump in and put our hands on it is unfair. It is totally uncalled for. In fact this money, as the government is planning to do, should remain in the public coffers because it belongs to the public. The employees of Canada should be guaranteed security and a right to access their pensions, and they are. No one is taking anything away from them. It is the opposite. There have been a number of improvements.
The President of the Treasury Board has gone out of his way to accommodate those who are calling on the government to have a proper mechanism to equally and collectively manage the funds and the pension benefits. If someone were to say, “I will call for better management and administration of the public service pension fund, a joint administration of that”, we are quite open to it. What some colleagues on the opposite side of the House are asking for is absolutely ridiculous and no one in their right mind on either side of the House would go for it.
We are unnecessarily delaying the passage of the bill by putting amendments that have nothing to do with the facts. A good number of those amendments are based on fiction and on wild imagination that somewhere somehow this money belongs to someone. Yes it does. It belongs to us collectively as taxpayers. It also belongs to the public servants.
No one is saying it does not belong to the public servants, but it belongs to the public servants as taxpayers of the nation and not as individuals. As individuals they are entitled to their pensions no matter what. No one is going to take more than what they are entitled to and no one is going to take less than what they are entitled to.
To that extent I am at a loss to hear some of my colleagues calling for things that are unwarranted, uncalled for and asking the government to do things. It is irresponsible to ask for them.
The President of the Treasury Board is doing the absolutely responsible and right thing. I commend him for that. I would like to see the proposals he has implemented as quickly as possible so the representatives of the employees and the government can work together collectively in a partnership to better manage the pension funds for generations to come.
The House should reject unequivocally every one of the amendments in this package. Let us move on with the bill.