Alberta would need to negotiate international agreements if it quits CPP: Freeland
CTV
Federal Finance Minister Chrystia Freeland says if Alberta were to quit the Canada Pension Plan, it would need to launch a 'complex and multi-year process' of negotiating international social security agreements to deal with contributors who work abroad.
Federal Finance Minister Chrystia Freelandsaid Friday that if Alberta were to quit the Canada Pension Plan, it would need to launch a "complex and multi-year process" of negotiating international social security agreements to deal with contributors who work abroad.
Freeland listed that effort among other steps she says the Alberta government, as well as the federal government, would need to take if Premier Danielle Smith decides to withdraw the province from the federal retirement plan and set up its own program.
Her remarks came following a virtual meeting with provincial finance ministers, in which she says they discussed the consequences of Alberta going ahead with its proposal.
"Of course Alberta has the right to withdraw," Freeland told reporters.
"But Alberta's choice about the (Canada Pension Plan) also implicates every single Canadian."
Freeland, who called herself a "proud daughter of Alberta," said she is hearing from Albertans who are concerned about the idea and is asking the chief actuary to "provide an estimate of the asset transfer," based on a "reasonable interpretation of the provisions in the (Canada Pension Plan) legislation."
On the issue of negotiating international social security agreements, Freeland told reporters during Friday's news conference that if Alberta launched its own program it would need to do so to "ensure similar treatment of contributors who spend part of their careers aboard."
