Alberta set to release report on benefits, drawbacks of quitting Canada Pension Plan

Premier Danielle Smith is set to release a report that could lead to a vote on whether Alberta should ditch the Canada Pension Plan.

Premier Danielle Smith is set to release a report that could lead to a vote on whether Alberta should ditch the Canada Pension Plan.

Smith, along with Finance Minister Nate Horner and panel chair Jim Dinning, are to release the report at a news conference in Calgary.

Both the United Conservative premier and her predecessor, Jason Kenney, have expressed support for the potential of a go-it-alone program, given Alberta's wealth and comparatively young population.

The Opposition NDP says it has received leaked details of what is coming in the report and says Albertans should prepare for some flawed estimates on the benefits of quitting CPP.

NDP finance critic Shannon Phillips says the report relies on an outdated financial withdrawal formula dating back to the CPP's creation in the mid 1960s.

“The report is expected to claim Alberta is owed hundreds of billions of dollars from the fund,” Phillips said in a statement Tuesday.

“However, if every province used this formula, it would total nine times what is currently invested in the CPP.”