Sorry Ont goes up to 50% Jan 2010.

Jason,you missed one important point. DC plans are subject to "locking in" provincially. In Ontario I'm allowed 6.94% this year and 7.037% in 2010. This resets evey Jan 1. Each province has a different
locking factor. Saskatchewan unlocked their pensions 100% in 2002. The rest are all over the map. Ontario is 25% unlocked this year and goes up to 50% Jan 2012. You can say where it is invested but you just can't touch it. If there are no more increases here in Ontario, I'll be able to access my fund 100% when I reach 90 years of age.
As for the CPP we should make it into a universal pension plan. By that I mean each person 's plan is under their multi-part SIN#.
SIN# Basic contribution as it is now.
SIN#-A Voluntary tax sheltered contributions instead of an RRSP.
SIN#-B Company contributions to employee's plan.
SIN#-C Employee's contribution to company plan.
This plan would allow your money to ride along in the huge CPP fund. You gain all the benefits of being in the market which historically has outperformed all other types of investments. Also you wouldn't be robbed by hidden fees like brokerages and mutual funds charge.