The Alberta government has received a response from Canada's chief actuary regarding its request to leave the Canada Pension Plan, but no estimated payout amount has been provided. The province is currently analyzing the report and will make further announcements at a later date.
EDMONTON — The Alberta government says it has received a response from Canada’s chief actuary on its bid to leave the Canada Pension Plan, but there is no estimate on how much the province should get. The province has been waiting for months for the review and a figure. 'We received their interpretation of the legislation, but it did not contain a number or even a formula for calculating a number,' Justin Brattinga, press secretary to Finance Minister Nate Horner, said in an email Thursday.
'We are still analyzing the report and will have more to say at a later date. We would not consider moving forward with a referendum on the issue until after we have a firm number to provide Albertans.' It wasn’t clear whether a firm estimate is expected or forthcoming from the federal government. The federal finance ministry and the office of the chief actuary didn’t immediately respond to questions. The pension plan issue took off after Premier Danielle Smith’s United Conservative Party government won the 2023 provincial election. Her government estimates Albertans deserve $334 billion — more than half the national retirement plan, while the Canada Pension Plan Investment Board has pegged it closer to $100 billion. Smith has said she wants to see what the federal estimate is, then put it to Albertans to see if there’s appetite for a referendum. The premier told The Canadian Press in an interview earlier this month that getting a firm number‘does matter.’ 'If it is an amount that doesn’t allow for us to significantly reduce premiums or give a rebate to existing pensioners, then Albertans might decide it isn’t worth it,' Smith said. 'If it allows for us to do both — increase the amount that pensioners can get as well as reduce contributions significantly — they might decide otherwise.' Smith has argued Albertans are getting a raw deal under the national plan by putting in far more than they receiv
ALBERTA CANADA PENSION PLAN REFERENDUM PREMIER DANIELLE SMITH FINANCE MINISTER
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Alberta taps former Canadian PM Harper to oversee pension managerAlberta’s government named former Canadian Prime Minister Stephen Harper to lead the board of its public pension fund manager, less than two weeks after firing its chief executive officer and every director.
Read more »
Alberta’s AIMCo shakeup could mean government control of pension fund assetsNew appointees to AIMCo board include the Danielle Smith government’s own deputy minister of finance and former prime minister Stephen Harper
Read more »
Industry not consulted on Alberta's plan to challenge federal emissions capAlberta Premier Danielle Smith, left, announced measures her government plans to take on Tuesday to resist the effects of a federal government emissions cap coming on Canadian oil and gas. She is flanked by Environment and Parks Minister Rebecca Schulz, right.
Read more »
Alberta small business owners react to possible end to Canada’s postal strikeSmall business owners in Alberta say Ottawa's latest move to try to force an end to the country's postal strike comes too late to save this year's holiday shopping season.
Read more »
Canada pushes net-zero electricity target to 2050 as Alberta vows legal challengeThe federal government has pushed its target to achieve a net-zero electricity grid back 15 years to 2050 as part of new clean electricity regulations announced Tuesday — though officials maintain that target date was always the goal.
Read more »
Premier Danielle Smith to announce Alberta’s border security plan in response to tariff threatSmith recently said that Alberta has been thinking about sending provincial sheriffs, helicopters and drones to the part of the border the province shares with Montana.
Read more »