Mr. Speaker, I believe the figure is 64% of Canadians made no contributions to RRSPs. They do not have the money. They cannot afford it. This is another instrument that would encourage them to save more. It is like pushing the onus on individuals. I do not mind individuals standing up for themselves in their own best interests, but if they do not have the money to save currently, where will they find the money to contribute to this new savings scheme?
There is nothing that adds to the retirement security of ordinary Canadians in this bill. It is an illusion. As I say, it is not sorcery. It is bad magic. The government is trying to snow Canadians by putting the words “pension plan” in the title of a bill. It has nothing to do with a pension plan. It is a phony piece of work. Canadians should not fall for it. They deserve better.