Finance committee  Yes, we want them to have.... The bill is good because they will have a credit. Even if they have a low salary, they will get the credit, so we are happy about that because they need it. However, something that could have been looked at is that the credit, which gives them back

Finance committee  The business has to pay the contribution, yes.

Finance committee  I could answer in French.

Finance committee  We think low-income groups should also have a cumulative credit, as provided for in the bill. However, we would not want people with low incomes to have to contribute more, because they need the income they have. A person whose income is 50% of the maximum allowable earnings need

Finance committee  I was talking about the maximum allowable earnings. This affects those who earn about $25,000 and will be entitled to the tax credit. Someone who earns less than $25,000 cannot really pay a retirement premium. However the bill provides for a tax credit that offsets the contributi

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

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  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  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 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  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