An Angus Reid study published Monday reveals 48% of Albertans think there is more to lose than gain in leaving the Canadian Pension Plan (CPP), while 36% are onboard. Any province is free to leave the plan with three years notice. Quebec is the only province with its own existing pension plan. In November, Premier Danielle Smith proposed Alberta leave the CPP in favour of establishing its own retirement savings plan, reasoning the province would gain more than half its value based on what has been paid into it. Critics of the proposal have pushed back on Smith’s economic reasoning, and the federal government has yet to announce how much Alberta would walk away with if it left the CPP. Since it’s yet to be determined what percentage of the CPP would go to Alberta, Albertans remain fairly divided on the prospect. Angus Reid evaluates the hesitation to go independent pertains to the question of the amount of benefits Alberta would acquire.While 31% of Albertans feel they would be better off, 18% say there will likely be no difference one way or another and 51% think there will be a net loss to their retirement budget.The study found generally people from each province do not wish to step out of the plan. At least 57% of respondents in BC, Manitoba, Ontario and Atlantic Canada oppose the idea of exiting the CPP, while in Saskatchewan there are high levels of support, with 37 % for and 44% against.
An Angus Reid study published Monday reveals 48% of Albertans think there is more to lose than gain in leaving the Canadian Pension Plan (CPP), while 36% are onboard. Any province is free to leave the plan with three years notice. Quebec is the only province with its own existing pension plan. In November, Premier Danielle Smith proposed Alberta leave the CPP in favour of establishing its own retirement savings plan, reasoning the province would gain more than half its value based on what has been paid into it. Critics of the proposal have pushed back on Smith’s economic reasoning, and the federal government has yet to announce how much Alberta would walk away with if it left the CPP. Since it’s yet to be determined what percentage of the CPP would go to Alberta, Albertans remain fairly divided on the prospect. Angus Reid evaluates the hesitation to go independent pertains to the question of the amount of benefits Alberta would acquire.While 31% of Albertans feel they would be better off, 18% say there will likely be no difference one way or another and 51% think there will be a net loss to their retirement budget.The study found generally people from each province do not wish to step out of the plan. At least 57% of respondents in BC, Manitoba, Ontario and Atlantic Canada oppose the idea of exiting the CPP, while in Saskatchewan there are high levels of support, with 37 % for and 44% against.
