TORONTO (Reuters) - Canadian Finance Minister Chrystia Freeland will seek to challenge Alberta Premier Danielle Smith's plan to pull her province out of the Canada Pension Plan (CPP), in a meeting with provincial and territorial counterparts on Friday.
Employees and employers pay a combined 11.4% of a worker's pay into CPP on their annual income between C$3,500 and C$64,000, and retirees receive a pension starting at age 60. Several sources, including CPP Investments, have cast doubt on that calculation as being too large. Smith has said the province would have a"firm number" on the transferred amount before a referendum.
Concordia University professor Patrik Marier said that if the referendum goes ahead, he is concerned about the types of pension questions that could be posed, which could complicate the outcome of the referendum.
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