Freeland meeting finance ministers to discuss Alberta’s CPP exit proposal

Finance ministers from across the country will meet up virtually with their federal counterpart Chrystia Freeland Friday to discuss Alberta’s proposal to quit the Canada Pension Plan.

Freeland called the meeting amid concerns about the ramifications of Alberta leaving the federal retirement plan to set up its own standalone program.

The Alberta government says its workers have contributed an oversized share to the national fund and would be in line for big savings and payouts if it were to leave the CPP.

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Some Alberta retirees fear ‘ridiculous’ new pension plan, as province previews CPP exit strategy

Freeland says Albertans need to know the CPP delivers among the best returns in the world and that an Alberta pullout would put the program at great risk for millions.

Alberta Finance Minister Nate Horner says he looks forward to discussing the pension issue, along with other points of inter-governmental dispute, including the federal carbon tax.

Alberta Premier Danielle Smith had planned to hold a possible referendum on leaving the CPP in 2025, but now says she won’t hold it until governments or the courts deliver a hard number on how much Alberta will get if it leaves the CPP.