Alberta deserves more than half CPP assets if it exits program: report

A long-awaited report looking at the feasibility of an Alberta pension plan was released in the last hour and it does lay out a financial case for making the move claiming over half the Assets in the Canada Pension Plan right now actually belonged to Alberta according to the reports an Alberta Pension Plan

Could save the province 5 billion dollars in the first year Alone says that’s because Alberta has in general higher wages and a younger population than the rest of Canada the report says the change could mean albertans paying less in annual pension contributions but retirees could receive more including

The possibility of a five to ten thousand dollar bonus payments upon retirement and while the report doesn’t make recommendations on whether Alberta should proceed with its own pension plan the premier made it clear she thinks it’s a good idea the Lifeworks analysis estimates that albertans could save more than 5 billion

Dollars in the first year alone if we moved from the CPP to an Alberta pension plan that’s because hard-working albertans have paid much more into the CPP than Alberta seniors get back in pension benefits Kevin Green joins us now from outside the McDougall Center here in Calgary Kevin during the election earlier this

Year we barely heard mention of an Alberta pension plan but now it’s back on the table Detroit Jordan an app or an Alberta pension plan was one of Daniel Smith’s platforms when she ran for the leadership of the conservative party but she was silent on it during the election

Earlier this year until the very end when she had a comment where she said no one is touching anyone’s pensions well that’s changed now it’s clearly back on the table and be prepared for a full court press from the Alberta Government both Smith and her predecessor Jason Kenney touted the potential benefits of

An Alberta pension plan the idea though has been floating in Alberta political circles for decades Stephen Harper even before he was elected to Parliament and it was a lobbyist helped pitch the plan in fact before the turn of the century proponents of moving to an app say as

You mentioned almost 334 billion of the Assets in the CPP are approximately 53 percent of it will be owed to Alberta by 2027 but Economist Trevor tomb from the University of Calgary says those assumptions are likely wildly off base pointing out using the province’s own calculations Ontario would get over 50

Percent of the CPP so would BC and so would Alberta and it all can’t possibly add up to more than a hundred percent he says the actual amount Alberta will be entitled to is likely less than half of the province’s forecast there is an incredible amount of

Uncertainty and a lot of analysis that albertans will see including the government’s own analysis that they’re releasing today relies on some heroic assumptions that make the plan look better than it really ultimately would be so there are some genuine benefits it’s hard to avoid a lower contribution

Rate in a separate plan but it is equally hard to avoid the risks that that comes with ultimately it will be a question that will have to be decided by albertans this says legislation will be brought in this fall to ensure that a referendum is held before any move might happen to an

Alberta pension plan but no matter what it won’t be a quick transition every Province except Quebec has people in it in the CPP and having Alberta pull even at 25 of the assets out of it would affect workers and governments across the country so expect other premiers

From all of those provinces to fight the move every way they can possibly all the way up to the Supreme Court Jordan thank you very much Kevin

A report commissioned by the Alberta government says the province would be entitled to more than half the assets of the Canada Pension Plan – $334 billion – if it were to exit the national retirement savings program in 2027.

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