Finance ministers from across the country will meet virtually with their federal counterpart, Chrystia Freeland, today to discuss Alberta’s proposal to quit the Canada Pension Plan.
Meeting called amid concerns over ramifications of Alberta setting up own pension program
Finance ministers from across the country will meet up virtually with their federal counterpart, Chrystia Freeland, today to discuss Alberta’s proposal to quit the Canada Pension Plan.
Freeland called the meeting amid concerns about the ramifications of Alberta leaving the federal retirement plan to set up a standalone program.
The Alberta government says its workers have contributed an oversized share to the national fund and would be in line for big savings and payouts if it were to leave the CPP.
Freeland says Albertans need to know the CPP delivers among the best returns in the world and that an Alberta pullout would put the program at great risk for millions.
Alberta Finance Minister Nate Horner says he looks forward to discussing the pension issue, along with other points of inter-governmental dispute, including the federal carbon tax.
Alberta Premier Danielle Smith had planned to hold a possible referendum on leaving the CPP in 2025. She now says she won’t hold one until governments or the courts deliver a hard number on how much Alberta will get if it leaves the CPP.
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