“For something this big, Albertans deserve the benefit of a rational, adult conversation.”
And we are going to make one of the central premises of this rational, adult conversation that Alberta is owed over half the CPP’s fund.
Please.
Better headline:
“UCP wants to raid CPP to feed more money into O&G.”
Exactly. The only reason to push separation from the CPP so hard is because they want to meddle in the investment selection process to prop up specific companies in violation of the fiduciary responsibilities of the pension manager and at the cost of Albertans’ pension growth and stability.
The only other angle I can think of is separatists deliberately trying to fracture Alberta away from Canada.
Not just to prop up O&G company stock prices, but also to further their long-running process of tying absolutely every Albertan’s financial well-being to O&G. Right now, if O&G drops, yeah, Albertans will lose jobs and the province’s social services go unfunded, but they still have CPP to rely on. With this change, their retirement will also vanish.
The more they go “all in” on O&G, the more every voter in Alberta absolutely NEEDS the O&G industry to remain profitable. Keep that going, and the political party that is most pro-O&G will stay in power perpetually.
I can imagine Albertans being upset that they make a high percentage of the contributions but get a small portion of the payouts.
That doesn’t make any sense; that’s not how it works. Everyone’s individual CPP contributions are proportional to their pension. There’s no preferential treatment for anybody.
It’s extortion by a rogue authoritarian leader/conspiracy theorist group against 40,000,000 people.
The UCP needs a bigger pot of pension funds to prop up oil and gas. They rewrote the laws a few years back to allow them to put health pensions in. I can only assume it went poorly and they need more gambling money to try and cover the debts.
I’m as hard of a “no” on this as possible. I’m absolutely convinced that when the smoke and mirrors collapse the healthcare pensions are gone, don’t need to take Albertans CCP contributions w/ them.
Alberta makes up a bit under 12% of the population. Best offer? 12% of the CPP. Good luck with that.
Why are the people of Alberta getting duped by this crazy woman?
The report by pension analyst LifeWorks calculates the province deserves more than half of the $575 billion in the CPP fund, and says with that money an Alberta pension plan could deliver lower contribution costs and higher payouts.
I’d like to see how LifeWorks came to that conclusion
