Alberta's Minister of Finance Nate Horner says the Feds are delaying providing the province with their actual contributions to the Canada Pension Plan.In the statement released, Horner acknowledged the importance of providing Albertans with comprehensive information regarding the potential benefits and implications of transitioning from the Canada Pension Plan (CPP) to a provincial alternative. He highlighted the feedback received during the initial engagement phase, emphasizing the public's desire for clarity on the value of asset transfer Alberta would receive upon withdrawal from the CPP.Horner noted that the federal government had committed to seeking the opinion of the chief actuary of Canada to determine Alberta's share of CPP assets based on an interpretation of CPP legislation. However, he expressed disappointment over recent developments, revealing that the chief actuary's preferred approach involves forming a panel to interpret the asset transfer formula outlined in the Canada Pension Plan Act. This interpretation will subsequently inform the chief actuary's calculation.Despite this setback, Horner assured Albertans that efforts to gather public input on the potential Alberta Pension Plan are ongoing. He encouraged individuals to continue submitting their thoughts and feedback, with the engagement panel accepting workbook submissions until the end of February. The panel is currently analyzing input from town halls and online surveys to inform its deliberations.Furthermore, Horner reiterated the Alberta government's commitment to transparency and democracy in the decision-making process. He reminded the public that the Alberta Pension Protection Act, enacted last fall, guarantees that the final decision regarding the establishment of an Alberta Pension Plan will be determined through a referendum, ensuring that Albertans have the opportunity to make an informed choice.
Alberta's Minister of Finance Nate Horner says the Feds are delaying providing the province with their actual contributions to the Canada Pension Plan.In the statement released, Horner acknowledged the importance of providing Albertans with comprehensive information regarding the potential benefits and implications of transitioning from the Canada Pension Plan (CPP) to a provincial alternative. He highlighted the feedback received during the initial engagement phase, emphasizing the public's desire for clarity on the value of asset transfer Alberta would receive upon withdrawal from the CPP.Horner noted that the federal government had committed to seeking the opinion of the chief actuary of Canada to determine Alberta's share of CPP assets based on an interpretation of CPP legislation. However, he expressed disappointment over recent developments, revealing that the chief actuary's preferred approach involves forming a panel to interpret the asset transfer formula outlined in the Canada Pension Plan Act. This interpretation will subsequently inform the chief actuary's calculation.Despite this setback, Horner assured Albertans that efforts to gather public input on the potential Alberta Pension Plan are ongoing. He encouraged individuals to continue submitting their thoughts and feedback, with the engagement panel accepting workbook submissions until the end of February. The panel is currently analyzing input from town halls and online surveys to inform its deliberations.Furthermore, Horner reiterated the Alberta government's commitment to transparency and democracy in the decision-making process. He reminded the public that the Alberta Pension Protection Act, enacted last fall, guarantees that the final decision regarding the establishment of an Alberta Pension Plan will be determined through a referendum, ensuring that Albertans have the opportunity to make an informed choice.
