Alberta releases pension plan report, seeks 53% of CPP's assets

[jazz]

Albertans could contribute less and receive more in benefits should the province create its own pension plan, but the program would also potentially face complex withdrawal negotiations, steep operating costs, and relies on receiving more than half of the Canada Pension’s Plan’s assets.

The findings were set out Thursday with the release of the government-commissioned pension plan report from Lifeworks.
It confirms that it is possible for Alberta to leave the Canada Pension Plan (CPP) without the approval of other provinces, but also that the CPP Act does not compel Ottawa to negotiate with a withdrawing province over the division of the CPP’s assets and liabilities.
It assumes Alberta — home to roughly 12 per cent of Canada’s population — will receive 53 per cent of the CPP’s base assets, some $334 billion, based on what it deems to be “equal to Albertans’ contributions less benefit payments and expenses accumulated with net investment earnings.”

[blackpowder]

And what does that tell you?

A good idea that is likely 40 years too late.

[jazz]

And what does that tell you?

A good idea that is likely 40 years too late.

Actually the target might not be the CPP. It might be a back door to equalization.

Trudeau can just say no to the transfer of CPP assets. Then Smith has her rationale to halt equalization.

[blackpowder]

I'm not so sure it would even win the promised referendum anyway. Unions and NDP against from beginning. People I hear against it don't understand it at all. Really like explaining capital gains to the homeless.
The ROC can't afford to let us go now either. We've always paid to artificially keep people where there is no work. It will continue.

[jazz]

I don’t think the plan is to go to referendum. I think it’s a back door to create an APP and fund it by a claw back in equalization. 25% of Albertans will drop the CPP in favour of and APP and a percentage will migrate every year.

A million people from AB dropping CPP will have an effect.

This is a very shrewd move.

[blackpowder]

You may be right. I myself, don't give that much credit anymore.

[mustardman]

I’ve always said that if Canada was to disintegrate it wouldn’t be Quebec but Alberta that caused it…

[mustardman]

I think Kenney was right when he called smith and gang -wing nuts

[blackpowder]

I’ve always said that if Canada was to disintegrate it wouldn’t be Quebec but Alberta that caused it…

It's too late for AB to do that much. QB and Ont have had centuries. If that's what Canada is then so be it.

[Stormin]

I think Kenney was right when he called smith and gang -wing nuts

So, it's better to stay in an abusive relationship?