Finance committee  Sure. I think it's critically important that consultation be taking place with Canadians, with organizations that represent Canadian workers, so unions, associations, and not just with corporate Canada. I think it's critically important as well that we look at this as a collective responsibility as opposed to individualizing the problem.

Finance committee  It's in transition. I believe it's close to 0.4% now, but each year it's moving up. In 2013 it will be at the full 0.42%.

Finance committee  Yes, that's correct.

Finance committee  Yes.

Finance committee  It definitely takes it closer to a fifty-fifty share, but it takes it up to a 0.42% share.

Finance committee  The way it would work is that the increases would happen incrementally. People would see increases to their benefits incrementally.

Finance committee  I actually can't answer that question, Mr. McCallum.

Finance committee  Thank you, Mr. Chairperson and committee members, for providing the Public Service Alliance of Canada, the PSAC, a union representing approximately 172,000 members, the opportunity to appear before this committee today to discuss the retirement income security of Canadians. Unfortunately, my presentation wasn't finalized in writing before leaving the office, so I will have copies to the clerk in French and English first thing tomorrow morning.

Status of Women committee  You like saying to me, “A quick answer”.

Status of Women committee  Yes, I think there should be a strong legislative framework for pensions and for private plans. I'm a trustee on a private plan, and I know I have to do training. Our plan is audited. We have an actuarial report that's filed with Revenue Canada on a regular basis. The trustees of that plan take those responsibilities very, very seriously.

Status of Women committee  It has to be funded. It has to be separate from the books. It can't be part of your corporate.... There has to be a separate entity that's your pension fund, and it has to be funded. Let's just look at what's gone on with Nortel with the self-funded disability. This was the richest company in Canada.

Status of Women committee  Thank you.

Status of Women committee  We have other public pensions. We have the Canada Pension Plan, and we absolutely support increasing the quantum of the Canada Pension Plan. We think that is critically important. People do make decisions that, obviously, they are responsible for. I certainly wouldn't go out and promote to our membership that since they are not 40, to withdraw all their money, which to me is taking a 50% hit.

Status of Women committee  I definitely believe that pension funds need to be funded. I think it's criminal behaviour when companies fail to fund their pension plans or rob them to take unreasonable risks, to pay debts, or to acquire new assets. I appreciate that there are many companies, not just in Canada but around the world, that have seen their pension plans really devalue due to the economic downturn, so that if they had to totally pay out the plan they don't have the means to do so.

Status of Women committee  I think people who are caregiving family members should be accruing pensionable time under the Canada Pension Plan. If we look at traditional stereotypical gender roles, if a husband's sick, the wife or the woman in his life is going to look after him at home. She's going to save a whack of money for the public purse in home care, hospital costs, etc., and she is obviously going to take a big hit economically at the end of it.