Finance committee  Yes, there is a downside.

Finance committee  Yes, definitely.

Finance committee  I'm glad you like the idea. I wish more people would, because we've been asking for it for many years. There is a downside. The downside is that if the money, instead of going into that side fund that could be withdrawn, goes into the real fund, then it would sit as extra surplu

Finance committee  The alternative with the pension security trust would benefit them. Remember, the way for the employer to access extra funds is only if there really are extra funds, and above that solvency margin, too. Sure, employees would prefer to have it sit there and then let's have extra

Finance committee  No, no, you wouldn't have an index. You need players in a market. One factor that's built into his statement, I believe, is the fee. The indexed funds have practically zero fees, and if you compare that to a manager who charges you 1%, then he has to be at least 1% above the ma

Finance committee  It is true to a certain degree that active managers have difficulty beating the index. All actuarial firms do analysis of fund returns and they compare different managers versus the index. It's very hard to beat year after year. Pension plans that choose their investment managers

Finance committee  I'm not saying that. That's what the legislators have said across Canada: for what you've accrued so far, if you have a promise at 60, don't change it in the course of employment.

Finance committee  There are ways of changing it within certain limited situations. For example, certain laws say that if employees sign an agreement to cut back on accrued pensions, it can be done. In some cases, they could say if you haven't earned the complete right to that pension and you're no

Finance committee  Thank you, Mr. Carrier. I apologize for not having spoken more in French. I just wanted to make sure that everyone would understand. We did not have much time to prepare, but all of our documents are published in both languages. Our statement and the white paper, which we have br

Finance committee  Yes.

Finance committee  I agree. We are proposing several standards which would improve the situation in terms of relative risk to pension plans. If they were implemented, the impact would be less severe for bankers.

Finance committee  It's a very complicated question. How many minutes do I have to answer that?

Finance committee  There is a difference between the public plans and the private plans. His numbers were for private employer plans.

Finance committee  The legislation across Canada protects accrued rights. When he's looking at liabilities for somebody who is actively employed and they look at 30 years, they say they'll pay your pension at age 60 if you have 30 years of service. Of course, if they change that promise and say the

Finance committee  I said that the modalities are very important, and depending on the type of modality which will be adopted, there could be a completely different impact. "Greatly disturb" would apply when all deficits come before everyone else. I am actuary, not a banker. Bankers who would be su