After a special meeting with provincial and territorial finance ministers on Friday, Deputy Prime Minister Chrystia Freeland said that she has requested the Office of the Chief Actuary to calculate what amount Alberta could be entitled to if they pull out of the Canadian Pension Plan (CPP), following a proposal by Alberta Premier Danielle Smith to withdraw from the federal retirement fund.
Freeland also warned that it would be a “complex and multiyear process” to negotiate international social agreements for Canadian contributors who work abroad, and would complicate the ability for Canadians to live and work across the country without jeopardizing their retirement.
“Alberta’s choice about the CPP implicates every single Canadian,” Freeland said. “It would be taking place at a time of real uncertainty, geopolitical uncertainty, global economic uncertainty around the world… Adding to that uncertainty right now is not something that would help Albertans or any Canadians.”
The Alberta government says its workers have contributed an oversized share to the national retirement fund and would be in line for big savings and payouts if it were to leave the CPP, while Freeland said that she is hearing from Albertans who are concerned about the proposal.
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