I know many seniors now who are on pensions. They’re not just using a computer for Hoyle’s book of games and solitaire; they’re actually doing their business online. Every person needs access to electronic files these days, and this is one of many measures in the bill that makes lives better for Ontarians and gives them access to information in the manner that they need it.

What our government has done through this bill and through other bills in the past has been the reduction of business costs. So far, there’s been historic progress, saving businesses nearly $700 million per year in net annual regulatory compliance costs, so that’s $120 million more than the 2022 burden reduction report. There have been 450 actions so far to reduce red tape for businesses and individuals without compromising public health, safety or the environment.

Thank you for the question.

Thank you to the member from Windsor–Tecumseh for your thoughts on this bill today. I want to refer back to your role. As you said, you were a regulator. Regulators play an important role in this province, particularly when it comes to protecting pensions that people have worked all their lives for, and when it comes to protecting investors, particularly small investors that have their life savings invested.

The Auditor General’s recent report—it’s actually from 2022, a value-for-money audit—talked about pension plan members who may be unaware of the risk that “they may not receive their full targeted pension benefits,” and improvements in sector oversight were needed to protect investors. She also went on to say that over the “past three fiscal years, about 718 pension plans submitted a total of” 1,000 “required filings late,” but they were not charged.

Rather than going after that, in this bill you just make it so that pensioners don’t have the—they have the obligation to say they want to receive their—