Alberta Finance Minister Nate Horner arrives to speak to the media at a news conference in Calgary, Thursday, June 29, 2023. Albertans will have to wait until the fall before they learn what the federal government thinks they should get if the province quits the Canada Pension Plan. THE CANADIAN PRESS/Jeff McIntosh
Alberta Finance Minister Nate Horner arrives to speak to the media at a news conference in Calgary, Thursday, June 29, 2023. Albertans will have to wait until the fall before they learn what the federal government thinks they should get if the province quits the Canada Pension Plan. THE CANADIAN PRESS/Jeff McIntosh
JMCEDMONTON - Albertans will have to wait until the fall before they learn what the federal government thinks they should get if the province quits the Canada Pension Plan.
Alberta Finance Minister Nate Horner says they鈥檝e been told Canada鈥檚 chief actuary plans to strike a panel this spring to explore how much Alberta should get, with an expected final calculation delivered in the fall.
Premier Danielle Smith鈥檚 government is urging Albertans consider a provincially run pension plan.
She says the province鈥檚 strong financial position and young workforce would deliver better benefits than staying in the CPP.
Alberta is relying on a report that says it's owed a windfall 鈥 53 per cent of the entire CPP 鈥 if it splits off to run its own plan.
Critics have called that calculation wildly overblown, leading Prime Minister Justin Trudeau鈥檚 government to call on the chief actuary to provide an estimate.
Alberta鈥檚 report estimates that given the outsized contributions of its workforce multiplied by compound interest, it is owed $334 billion.
The CPP Investment Board and economists say the true figure would be far lower.
Smith鈥檚 government launched the debate last year with a multimillion-dollar advertising campaign extolling the benefits of leaving the CPP.
Public response in the province has not been enthusiastic.
A government engagement panel estimates half the respondents are happy in the CPP while a quarter want Alberta to go it alone.
Any decision to leave the CPP would have to be ratified in a provincewide referendum.
Horner, in a statement Thursday, said the government is committed to waiting for the chief actuary鈥檚 number.
鈥淲e heard loud and clear that Albertans want more information on the value of the asset transfer Alberta would be entitled to,鈥 said Horner.
鈥淲e will continue to provide all the information necessary for Albertans to make an informed decision on our next steps.鈥
This report by 国产诱惑福利 was first published Feb. 15, 2024.
国产诱惑福利. All rights reserved.
Get the latest from 国产诱惑福利 News in your inbox. Select the emails you're interested in below.
For many Indigenous communities, access to financial services and economic opportu…
Trust in international money transfers has long been tied to physical places: a ba…
Sorry, an error occurred.
Already Subscribed!
Cancel anytime
Thank you .
Your account has been registered, and you are now logged in.
Check your email for details.
Submitting this form below will send a message to your email with a link to change your password.
An email message containing instructions on how to reset your password has been sent to the email address listed on your account.
No promotional rates found.
Secure & Encrypted
Thank you.
Your gift purchase was successful! Your purchase was successful, and you are now logged in.
| Rate: | |
| Tax: | |
| Today's total: | |
| Begins: | |
| Transaction ID: |
A receipt was sent to your email.
