Status of Women committee  Good afternoon. Indeed, women are highly dependent on public plans; you heard the statistics. One of the reasons for that is that they do not have access to defined benefit plans or good plans where they work. Because of the structure of industry, the major pension plans are spo

Status of Women committee  Good afternoon. In terms of enhancements to the Canada Pension Plan and Quebec Pension Plan, I just want to point out that there is currently a very significant intergenerational transfer. Indeed, young people are paying almost 200% of the value of the benefits they will receive

Status of Women committee  There is no doubt that, in every sector, be it the construction industry in Quebec or daycare centres, when there is a desire to establish an industry-wide plan, there must also be a government desire to set up such a plan, in order to lessen the burden of employers or force them

Status of Women committee  Yes, yes.

Status of Women committee  Yes, the Netherlands has plans of this type in place, particularly in the industrial sector. They have three major industry-wide plans where the risk is borne by all companies operating in that industry, but the specific sectors are determined by government. So, such plans are al

Status of Women committee  I do think the current model needs to be reviewed. The federal government and many provinces are trying to review their model but, so far, reforms are not significant enough. It's as though there has been just tinkering so far; there have not been any substantive changes aimed a

Status of Women committee  First of all, there has to be a much more structured process of reflection: a pension summit or something similar. We think that is a necessary first step. There are some models out there, particularly industry models. We are prepared to discuss them, but a wide variety of stake

Status of Women committee  Yes, a document was sent out with questions relating to the possibility of… obstacles to industry-wide plans; so, there were several consultations. I believe this was done in all the provinces. The consultations were held in several places. We had an opportunity to express our vi

Status of Women committee  I would just like to add that it is fine to look at the costs of that protection, but what must also be considered are the social costs of not providing that protection. If people reach retirement age with very little retirement income—or none at all—there will be social costs as

Status of Women committee  I can answer that. May I speak?

Status of Women committee  We have looked at new pension plan models. We really have to give this some thought. In terms of defined benefit plans, as we know them, many women currently contribute to such plans. Yet, as you mentioned, returns under those plans were very low during the economic crisis. As a

Status of Women committee  I would just like to add one thing about the CPP and the QPP. Two reforms have been announced: one has been announced in relation to the Quebec Pension Plan, and Bill C-51 has already been passed. If different approaches are taken, the two plans may end up not being quite so sim

Status of Women committee  No, we haven't studied the impact of not having a pension plan. However, we do know that, at the best of times, only 40% of workers have access to an adequate pension plan. That number is currently dropping. We have conducted a lot of studies dealing with poverty among seniors. I

Status of Women committee  I can answer that question. The day we individualize retirement, we place a very heavy burden on everyone, and especially young people. I am talking about retirement, finances and planning. During the economic crisis, it was clear to everyone that even the best managers were hav

Status of Women committee  Pension plans are not going to prevent bankruptcies. It is important to understand that. However, we may want to review our current pension models with a view to making them a little less risky. They need to be better managed and there must be better governance. When plans are al