Pooled Registered Pension Plans Act (B)

Elizabeth May: Mr. Speaker, I heard in my hon. colleague’s speech reference to registered retirement savings plans as an existing option. Yet, if we look at the history of RRSPs we find that a minority of Canadians participate and by far the largest number of those who have any substantial savings in RRSPs tend to be higher income Canadians.

Does she not agree that expanding the Canada pension plan would be far more likely to provide coverage for those who currently are not covered by any pension plan and who do not contribute to RRSPs?

Manon Perreault: Mr. Speaker, I would like to thank the hon. member. I did indeed say that people who have money to invest in RRSPs will have money to invest in the PRPP. But, will people who do not have money to invest in RRSPs have money to invest in a pooled registered pension plan? We need to look at this logically. By improving the QPP and the CPP, we would ensure that workers have a pension plan and a decent standard of living during their retirement.