Alberta should expect 'complex and multi-year process' if it leaves CPP: Freeland

If Alberta wants to leave the Canada Pension Plan (CPP) and create its own, it should be prepared for a long and complicated process according to Canada’s finance minister, who met with her provincial counterparts on Friday.

If Alberta wants to leave the Canada Pension Plan (CPP) and create its own, it should be prepared for a long and complicated process according to Canada’s finance minister, who met with her provincial counterparts on Friday.

“Alberta has the right to make its choice, but it is an issue that involves and touches on every single Canadian,” said Finance Minister Chrystia Freeland.

“It would be a complex and multi-year process and it would be taking place at a time of real uncertainty, geopolitical uncertainty, global economic uncertainty.”

The meeting of finance ministers comes the day after Alberta introduced a bill laying the groundwork for a possible stand-alone program.

The bill mandates a referendum be held before the province leaves the national pension plan, but does not require the government to accept the result of the vote.

Alberta asked Ottawa to give an estimate of which portion of assets the province would get, and today the federal government said it’s working to get that number.

“Appreciated that the feds have finally agreed to get the opinion of the chief actuary of what the asset withdrawal would be,” said Alberta Finance Minister Nate Horner