Industry committee  I would like to make a last point. There were a number of changes put in place by the government for federally regulated pension plans. Those were good initiatives, but they don't apply to private plans. I think we have to somehow make some arrangements within this country that

Industry committee  Thank you very much.

Industry committee  Personally, if I had my druthers, I'd do a defined contribution plan and I'd look after my own investments. But I'm a fairly sophisticated investor. Most people who work in large corporations do not have that ability. So I think we need to have a level of protection for people.

Industry committee  I still am, until next year.

Industry committee  What's actually happening is that companies are not doing defined benefit pension plans. There hasn't been a new one in over 11 years, and they're going to defined contribution pension plans.

Industry committee  I can't answer that question, but I could find out for you.

Industry committee  I hope so too.

Industry committee  I would be supportive of that, and I would hope that all parties would work together on this bill. I know it's what we have been working on as the Nortel pensioners group. We've been working with every party, trying to get them to work together to get a good bill for the common g

Industry committee  Yes.

Industry committee  Yes, I do. But I also know that if a company wants to get into a market, they will do whatever they have to do in terms of the capital expenditures. I was involved in mergers and acquisitions in the 1980s and 1990s with the wireless division. I was AVP of business planning. We

Industry committee  I suggest they go to the Royal Bank of Canada and get involved with them, since they have a $3 billion profit every quarter. They have lots of capital.

Industry committee  Right.

Industry committee  No, they don't change our position. We feel that the fact that you've included the solvency ratio versus the unfunded liability is most important, because the unfunded liability just means that it's an ongoing concern.

Industry committee  I think the other organizations that were in favour of Bill C-501 will be more in favour of Bill C-501 as a result of this.

Industry committee  No question.