Alberta Premier Firmly Insists on Exit Number Before Considering Referendum on CPP

Premier Danielle Smith says she would not call a referendum on whether Alberta should quit the Canada Pension Plan until there is a firm, finalized number on how much the province would get should it decide to go it alone.

“We’re hearing from people. They want to know what the number will be,” Smith told reporters Wednesday after a speech to the Edmonton Chamber of Commerce.

“Albertans will have a hard number.

“I’m not going to go to a referendum if people don’t have the information that they need in order to make a decision.”

Smith said the number may come by agreement with Prime Minister Justin Trudeau’s government and the Canada Pension Plan Investment Board or may have to be hashed out before a judge.

“It may have to be a court decision because this is legislated under the CPP Act,” said Smith.

“And if the federal government and the CPPIB will not come to the table and talk with us in a reasonable way to get us that number, then we’ll probably have to go to a court decision.”

Opposition NDP house leader Christina Gray said Albertans deserve to know the firm numbers before casting a ballot. She said her caucus will hold Smith to her word.

“We need to continue to hold their feet to the fire because they are continuing to push an agenda that Albertans don’t support (on the CPP),” said Gray.

Gray pointed out her caucus has heard from 30,000 Albertans in their poll, with 90 percent or more calling for Alberta to stay in the CPP.

Smith’s government has been consulting for more than a month with Albertans on the merits and drawbacks of leaving the CPP and creating an Alberta pension plan.

It has said Alberta is being shortchanged billions of dollars by contributing far more to the pension plan than it gets back and would fare better if it went its own way.

Smith launched the debate on Sept. 21 by releasing a government-commissioned report from consultant LifeWorks.

LifeWorks estimates Alberta is entitled to more than half of all CPP assets—about $334 billion—if it leaves, factoring in investment returns and compound interest.

With that figure, or with even less than that, LifeWorks says Alberta would be able to provide lower premiums and higher payouts.

Alberta seeks 53 percent of the fund with 15 percent of the CPP members.

Economists and analysts have delivered counter-figures.

The CPP Investment Board says Alberta



Source link