Alberta says Quebec pension model back on table in Canada Pension Plan exit debate
CTV
The Alberta government is again considering using the Quebec investment model for a possible provincial pension plan, less than a week after Finance Minister Nate Horner announced the Quebec option had been scrapped.
The Alberta government is again considering using the Quebec investment model for a possible provincial pension plan, less than a week after Finance Minister Nate Horner announced the Quebec option had been scrapped.
The Quebec model has been a point of contention amid concerns that Alberta’s pension reserves could be at risk through politically driven investment in dicey pet projects and sweetheart deals.
The Opposition NDP said Tuesday the policy confusion shows Premier Danielle Smith’s United Conservative Party government would be challenged to “organize a two-car parade.”
Savannah Johannsen, Horner's spokesperson, confirmed in a statement the Quebec model is back on the table.
“Albertans have the final say on the mandate of the investment manager,” Johannsen said Monday in a statement.
“The engagement panel (currently gathering public feedback on the pension proposal) will hear whether Albertans want that mandate to be solely focused on maximizing returns or whether it should have a dual mandate that also focuses on economic development in Alberta, similar to Quebec’s pension manager.”
Johannsen said regardless of the investment mandate, politicians will not be calling the shots.
