Finance committee  Is there a crisis? Yes. We have gone through and looked at pension plan after pension plan. They all have unfunded liabilities that are growing and growing. To give you a specific example, the most recent one we just dealt with was the OMERS plan, which is the municipal plan in Ontario.

Finance committee  It would be highly unlikely. Certainly it isn't the way the system is set up now. If there are systemic changes that are made, then yes, go down a different path. If you wanted to keep a defined benefit program by putting caps so that pensions could only go to a certain level, then you probably could make them sustainable.

Finance committee  Finally, I want to make a couple of suggestions, if I could, Mr. Chair. We suggest that the government look at ending defined benefit pensions for government employees and replace them with defined contribution plans. We would suggest that those plans would be matched by the employer up to $3,000 per year, as that would more accurately reflect what a private sector worker can get.

Finance committee  Thank you, Mr. Chairman. After reviewing Bill C-4 we were pleased to see some necessary changes made to labour relations and arbitration systems. We believe it's the right direction for the Canadian government to take at this time. Having said that, today we'd like to comment on income inequality, fairness in pensions, and keeping our seniors out of poverty, as we feel that these are issues the government needs to look at a little more carefully.

Finance committee  Yes, sir, I can. Thank you.