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Alberta to explore leaving CPP as report lays claim to $334B, more than half of fund - 2023-09-21

F182.png Alberta to explore leaving CPP as report lays claim to $334B, more than half of fund September 21, 2023, Joel Dryden, CBC News

The Alberta government released a long-awaited report Thursday on the possibility of establishing an Alberta-only pension plan, claiming the province is entitled to a staggering $334-billion asset transfer from the Canada Pension Plan in 2027.

That's more than half of the fund's estimated total net assets. The third-party report, compiled by consultant LifeWorks, attributes the figure to Alberta's high employment rates, young population, and higher pensionable earnings, which it claims has meant the province has sent billions more into the CPP compared to what it has received.

Withdrawing from the CPP could potentially mean the rest of the country would end up paying more for their pension contributions (though Trevor Tombe, an associate professor of economics at the University of Calgary, said it's not mechanically guaranteed). Quebec would not be affected, as it has operated its own pension plan for decades.

Wikipedia cite:
{{cite news | first = Joel | last = Dryden | title = Alberta to explore leaving CPP as report lays claim to $334B, more than half of fund | url = https://www.cbc.ca/news/canada/calgary/alberta-premier-danielle-smith-nate-horner-1.6973981 | work = CBC News | date = September 21, 2023 | accessdate = September 29, 2023 }}