Finance committee  No, I think he got it.

Finance committee  I was just going to point out that our culture is very much focused on risk. When we're evaluating any investment, we have to incorporate all the risks that we perceive for that investment. Certainly, the risks have risen in Europe and, arguably, have risen in the U.S., depending on the outcome of the election on November 8.

Finance committee  I would point out that it is recognized, certainly by the Office of the Chief Actuary, that returns will be lower than what he expected even in the last actuarial report—and they are at 26. It's something we're cognizant of. It's a primary reason why we still aggressively insist upon diversifying the fund and trying to raise the risk-adjusted returns over time to try to combat some of the effects of the changing demographics globally.

Finance committee  The first funds are anticipated to be received in 2019, and I would anticipate that we'd have an investment policy for the additional funds at that time.

Finance committee  By way of additional comment, it's important to recognize that the base CPP is a modified pay-as-you-go plan, and that's in contradistinction to the additional CPP, which will be a fully funded plan. As for a pay-as-you-go plan, we're a relatively young investment organization with contributions still exceeding benefits payable, so arguably the risk tolerance of it is higher than a standard pension fund, and that's why we're taking the decision to up the risk equivalent nature of our investments over the next few years.