Trudeau says he has instructed federal officials and cabinet ministers ‘to take all necessary steps to ensure Albertans – and Canadians – are fully aware of the risks of your plan, and to do everything possible to ensure CPP remains intact’
Prime Minister Justin Trudeau has entered the Alberta pension debate, saying his government will fight any actions that threaten the stability of the Canada Pension Plan. Trudeau arrives at the Canada-CARICOM summit in Ottawa on Oct.18, 2023.
The Prime Minister said he has instructed federal officials and cabinet ministers “to take all necessary steps to ensure Albertans – and Canadians – are fully aware of the risks of your plan, and to do everything possible to ensure CPP remains intact.” The Prime Minister joined the debate one day after the Canada Pension Plan Investment Board, the pension fund manager that invests the CPP’s $575-billion in assets on behalf of working Canadians,about the Alberta government’s early outreach to gauge support for the plan. CPPIB said a survey sent to Albertans and an advertising campaign have been biased and downplayed the potential risks and costs inherent in creating a separate pension plan.
In writing to Ms. Smith, Mr. Trudeau describes the CPP as “a stable fixture” of pension income for Canadians, “very much including Albertans.” He said Alberta’s possible withdrawal “would expose millions of Canadians to greater volatility” at a moment when the cost of living has soared because of high inflation and rapid rises in interest rates.
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