Freeland Convenes Virtual Meeting to Address Flaws in Alberta's Proposed CPP Exit Formula

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Freeland,Virtual Meeting,Alberta

Deputy Prime Minister Chrystia Freeland is convening a virtual meeting to discuss the flaws in Alberta's proposed exit formula from the Canada Pension Plan (CPP). Alberta Premier Danielle Smith asserts that the province deserves $334 billion if it leaves the CPP, but economists and the CPP Investment Board disagree. Freeland argues that the proposed formula would result in an untenable and absurd outcome, and emphasizes the importance of protecting the pensions of all Canadians.

A letter from Freeland to her counterparts says she is convening the virtual meeting on Friday to speak to what she calls flaws underlying Alberta 's proposed exit formula.

A throne speech from Smith's government on Monday did not mention the proposed withdrawal, and the premier said a promised referendum might not happen if public consultation suggests the idea isn't popular. Freeland says in the letter that some estimates note an analysis using the same formula would predict that Ontario, Alberta and British Columbia combined are entitled to 128 per cent of CPP assets - an outcome she calls “untenable” and “absurd.”

Source: News Formal (newsformal.com)

Freeland Virtual Meeting Alberta CPP Exit Formula Pensions Canadians

 

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