Ontario’s provincial government is urging the federal Liberals to intervene over Alberta’s plans to perhaps leave the Canada Pension Plan.On Wednesday, Ontario Finance Minister Peter Bethlenfalvy penned an open letter to Deputy Prime Minister Chrystia Freeland calling on Ottawa to convene what he called an “urgent meeting” of the country’s finance ministers to discuss “serious concerns” over Alberta’s plan to go it alone on pensions."While we will always maintain our respect for Alberta, our government firmly supports the CPP and shares your serious concerns with Alberta's proposal to withdraw from it," Bethlenfalvy said in his letter. “We believe this proposal could cause serious harm over the long term to working people and retirees in Ontario and across Canada,” he continued.Unlike his federal counterparts, Bethlenfalvy was quick to point out that Ontario supports Alberta’s energy sector and its aspirations in a united Canada.“I have the greatest respect for Alberta. The province, its people and economy play an incredibly important role in Canada's success. In particular, our government has been proud to stand in support of Alberta's energy sector and will continue to do so.“.“I encourage Albertans to stay in the CPP. As prime minister, I will protect and secure the CPP for Albertans and all Canadians, by treating every province fairly and freeing Alberta to develop its resources to secure our future.”Conservative leader Pierre Poilievre.It comes after Prime Minister Justin Trudeau last week wrote an open letter of his own warning Alberta Premier Danielle Smith that Ottawa won’t stand idly by and allow it to happen.“Withdrawing Albertans from the Canada Pension Plan ... would expose millions of Canadians to greater volatility and would deny them the certainty and stability that has benefitted generations. The harm it would cause is undeniable,” the prime minister said.Smith responded with a letter of her own accusing Trudeau of being disrespectful and “stoking fear in the hearts and minds of Canadian retirees on this issue.”Nonetheless, even Conservative leader Pierre Poilievre last Friday called on Alberta to have a change of heart. “I encourage Albertans to stay in the CPP. As prime minister, I will protect and secure the CPP for Albertans and all Canadians, by treating every province fairly and freeing Alberta to develop its resources to secure our future.”.The main bone of contention is Alberta’s assertion it is owed $334 billion or more than half of the value of the fund. The number is based on an independent report by a firm called LifeWorks — formerly Morneau Shepell — which was founded in part by Trudeau’s former finance minister Bill Morneau.The Canada Pension Plan Investment Board tasked with managing the fund, has previously estimated Alberta is owed about 16%, but the Alberta government wants it to show the maths. Others have suggested Ontario would be entitled to 63% using the Alberta government’s own formula."Nobody else has come up with a recent number to tell us what that actual number is, so the government has gone with the professional actuaries (at LifeWorks) that did this report," APP panel head Jim Dinning told an online town hall for Southern Alberta residents last night.That prompted Edmonton Liberal MP Randy Boisonette — who is also Employment minister — to call the plan flawed."The overwhelming number of Edmontonians and Albertans that are writing to me are saying: please tell Premier Smith hands off my pension," he told reporters on his way into a Liberal caucus meeting on Parliament Hill. "I think the best place for this conversation to take place is at the next Council of the Federation. I think the premiers need to have it. I am confident that finance ministers will have this conversation.".Later on Wednesday, Alberta Finance Minister Nate Horner welcomed what he said was a “good faith, rigorous” analysis of the LifeWorks report at the next finance ministers’ meeting — with the caveat that it also be tied with discussions on equalization and the consumer carbon tax.“Canada benefits when its finance ministers convene regularly to discuss issues of mutual concern.”
Ontario’s provincial government is urging the federal Liberals to intervene over Alberta’s plans to perhaps leave the Canada Pension Plan.On Wednesday, Ontario Finance Minister Peter Bethlenfalvy penned an open letter to Deputy Prime Minister Chrystia Freeland calling on Ottawa to convene what he called an “urgent meeting” of the country’s finance ministers to discuss “serious concerns” over Alberta’s plan to go it alone on pensions."While we will always maintain our respect for Alberta, our government firmly supports the CPP and shares your serious concerns with Alberta's proposal to withdraw from it," Bethlenfalvy said in his letter. “We believe this proposal could cause serious harm over the long term to working people and retirees in Ontario and across Canada,” he continued.Unlike his federal counterparts, Bethlenfalvy was quick to point out that Ontario supports Alberta’s energy sector and its aspirations in a united Canada.“I have the greatest respect for Alberta. The province, its people and economy play an incredibly important role in Canada's success. In particular, our government has been proud to stand in support of Alberta's energy sector and will continue to do so.“.“I encourage Albertans to stay in the CPP. As prime minister, I will protect and secure the CPP for Albertans and all Canadians, by treating every province fairly and freeing Alberta to develop its resources to secure our future.”Conservative leader Pierre Poilievre.It comes after Prime Minister Justin Trudeau last week wrote an open letter of his own warning Alberta Premier Danielle Smith that Ottawa won’t stand idly by and allow it to happen.“Withdrawing Albertans from the Canada Pension Plan ... would expose millions of Canadians to greater volatility and would deny them the certainty and stability that has benefitted generations. The harm it would cause is undeniable,” the prime minister said.Smith responded with a letter of her own accusing Trudeau of being disrespectful and “stoking fear in the hearts and minds of Canadian retirees on this issue.”Nonetheless, even Conservative leader Pierre Poilievre last Friday called on Alberta to have a change of heart. “I encourage Albertans to stay in the CPP. As prime minister, I will protect and secure the CPP for Albertans and all Canadians, by treating every province fairly and freeing Alberta to develop its resources to secure our future.”.The main bone of contention is Alberta’s assertion it is owed $334 billion or more than half of the value of the fund. The number is based on an independent report by a firm called LifeWorks — formerly Morneau Shepell — which was founded in part by Trudeau’s former finance minister Bill Morneau.The Canada Pension Plan Investment Board tasked with managing the fund, has previously estimated Alberta is owed about 16%, but the Alberta government wants it to show the maths. Others have suggested Ontario would be entitled to 63% using the Alberta government’s own formula."Nobody else has come up with a recent number to tell us what that actual number is, so the government has gone with the professional actuaries (at LifeWorks) that did this report," APP panel head Jim Dinning told an online town hall for Southern Alberta residents last night.That prompted Edmonton Liberal MP Randy Boisonette — who is also Employment minister — to call the plan flawed."The overwhelming number of Edmontonians and Albertans that are writing to me are saying: please tell Premier Smith hands off my pension," he told reporters on his way into a Liberal caucus meeting on Parliament Hill. "I think the best place for this conversation to take place is at the next Council of the Federation. I think the premiers need to have it. I am confident that finance ministers will have this conversation.".Later on Wednesday, Alberta Finance Minister Nate Horner welcomed what he said was a “good faith, rigorous” analysis of the LifeWorks report at the next finance ministers’ meeting — with the caveat that it also be tied with discussions on equalization and the consumer carbon tax.“Canada benefits when its finance ministers convene regularly to discuss issues of mutual concern.”
