Alberta expecting to get federal estimate of its share of Canada Pension Plan by fall
CTV
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.
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’ve been told Canada’s 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’s government is urging Albertans consider a provincially run pension plan.
She says the province’s 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 — 53 per cent of the entire CPP — if it splits off to run its own plan.
Critics have called that calculation wildly overblown, leading Prime Minister Justin Trudeau’s government to call on the chief actuary to provide an estimate.
Alberta’s report estimates that given the outsized contributions of its workforce multiplied by compound interest, it is owed $334 billion.
