Upcoming Alberta pension report to use exit formula from the ’60s: Opposition
A report on the viability of a provincial pension plan in Alberta is expected to be released by the end of the month — a report the Opposition is characterizing as a “misleading fantasy case” for leaving the Canadian Pension Plan.
On Tuesday, Shannon Phillips, Opposition finance critic for pensions and insurance, said she’s been informed of some of the contents of the report expected out in days.
“The report will rely on a withdrawal formula that dates back to 1966 and completely ignores how the Canada pension plan is currently invested,” Phillips said.
“It will claim erroneously, falsely, that Alberta is owed hundreds of billions of dollars from the fund. This is complete make believe, because if every province claims their quote-unquote ‘share’ of the fund as calculated by this coming report, it would total nine times what is currently stored in the CPP.” |Read more https://globalnews.ca/news/9972548/alberta-pension-report-exit-formula-60s-opposition/| globalnews.ca/news/9972548/alb…