How does it affect citizens either way? Isn’t it the same amount of money? Won’t it work like QPP where if you leave the province, they do transfers with CPP to ensure you get all your pension no matter where you live when you retire? What difference does it make who holds the money? Please objective answers only, I’m not looking for how individuals feel about it either way.
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Well, for one thing, Quebecers are contributing 1% more annually to their plan than other Canadians are to the CPP. There is little evidence to expect that Albertans will not end up in the same situation (ie paying more for a similar return).
Then there is the argument that the Alberta government is making regarding how much of the CPP the Province should get in any withdrawal from the system.
Third, many seniors in Alberta would likely see their payouts decreased should Alberta withdraw simply because of this debate over “how much”.
Lastly, the CPP is one of the BEST managed funds on the planet in terms of it’s ROI. Why would anyone want to bail out of something as successful as CPP for some ephemeral “promise” of a better deal?
I thought it was a stupid idea when the Liberals were proposing something similar in Ontario and, were I living in Alberta, I would think THIS is a stupid idea now. That said, I am retiring in a year, so my biases are clear.
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