Alberta has right to leave federal pension plan but won’t get as much money as it thinks, Freeland says
In the wake of an “urgent” meeting with provincial finance ministers Deputy Prime Minister Chrystia Freeland, reaffirmed Alberta’s right to withdraw from the Canada Pension Plan but questioned the number Alberta says it’s entitled to from the pension fund if it does.
“Of course, Alberta has the right to withdraw from the CPP (Canada Pension Plan) should it so choose,” Freeland admitted after the meeting with her provincial and territorial counterparts.
However, she added that Alberta’s choice about the CPP implicates every single Canadian. Due to this, the meeting focused on what the consequences for the entire country would be if Alberta decided to leave, she explained.
Alberta has referenced a study indicating its claim to a significant portion of the CPP’s holdings.
The study projects that by Jan. 1, 2027, Alberta could lay claim to an estimated $334 billion, representing about 53% of the CPP’s assets. This projected share far exceeds Alberta’s relative population size within the CPP framework, around 15%.
