Finance committee  Yesterday, a professor from the University of Calgary presented quite an in-depth study of each of the—

Finance committee  Thank you. From an administrative standpoint, especially if we're talking about defined contribution plans, people who contribute to small plans can't get fees as competitive as those associated with larger plans. Furthermore, participants in defined contribution plans generally do not have to decide on their own investments.

Finance committee  The submissions designed to improve the Canada Pension Plan are numerous, very different and very divergent. The consequences of these kinds of changes are quite profound, not only with regard to the system itself, but also with regard to all other related plans. Before venturing into this type of change, you have to consider—

Finance committee  It's to dissipate the question of ownership of that surplus, while at the same time ensuring--because it's already in there and is part of this proposal--that the target solvency margins are maintained so the plans are funded to an appropriate level of solvency.

Finance committee  Yes, absolutely. Mr. Menzies, the 100% referred to there is not actually for the totality of fund, but for the pension security trust aspect of it. The purpose of that side fund, if you will, is to ensure that with respect to solvency funding and...like special payments, that if and when things turn around and deficits turn to surplus, they have the ability to go and retrieve those sums of money, which is not possible in the present framework.

Finance committee  Correct.