Why Alberta says it's entitled to half of Canada's Pension Plan | About That

My brother get 500 dollars more than me, we are both pensioners, he worked as a driller all over Canada, I worked in hospitality and only in BC. My point is you only get what you put into the CPP fund and it doesnt matter where you work in Canada or where you retire. Its federal

Albertan here - the idea that Alberta owns this money is crazy - contributions were made by individual workers - the money belongs to the workers - wherever they have lived or currently live. so many folks can be lifelong Albertans and then retire to another part of the country that is better suited to retired folks - BC for example!

I hired a private consultant, who crunched some numbers, and concluded that the Province of Alberta owes me 17.3 billion dollars.

Everything you said on here just confirms that the CPP is a bad investment for everyone, we would all be better off investing our own money. However nothing in this report proves that Alberta should stay in the CPP. I am for an APP

It's NOT right to calculate it by province, but by individual. Think about those left Alberta

LifeWorks did a stellar job showing why no one should ever use their services.

She (the Premier) has found new money to steal from Albertans and give to her friends.

As an Albertan, I think UCP is trying to dazzle us with big numbers - no matter what the number, it’s irrelevant because there is NO WAY I would trust Premier Smith with my pension!

If the calculations is based on all contributions Albertans have made since the beginning, and the deductions Albertans have made, it appears that they completely forget the contributions that were made by a Albertans who then MOVED OUT of Alberta before they withdrew. I grew up in Alberta, and I started working as an Albertan, but I no longer live in Alberta. It’s absolute BS that Alberta would get the money that I contributed! When I lived in Saskatchewan there were a lot of retirees, who worked in Alberta, but moved Saskatchewan to retire. I wonder how Saskatchewan feels about this… or BC, or the maritimes. CPP is not paid by the province but by INDIVIDUALS. That is key. Will the Alberta pension program pay me if I return home when I retire???

2:58 All the money Alberta EVER paid into CCP .. Well over the years there's been thousands and thousands of out of province workers working in Alberta (mostly in oil industry) and most of those workers are now in their home provinces drawing CCP .. So ACTUAL Alberta residents didn't pay in $163 B ..

I am a retiree at the moment, however central to this argument is that of portability. In my working career, I started in Ontario, then I worked up in the N.W.T., then in Newfoundland, then back to Ontario, then out to Alberta and then back to Ontario. I was never worried about my provincial status for my Canada Pension contributions and payouts. It is a world leader as far as pension plans go and I hope I won't have to worry for the future.

Quebec was smart to not trust the federal government from day 1

It’s simple. Albertans can just start a new provincial pension plan and stop contributing to CPP without extracting any fund. Then at retirement age, Albertans are still entitled to collect CPP based on their contributions prior to the stop + whatever they entitle for the new provincial pension. It’s a fair play and as high earners and net contributors, Albertans can still keep more money for themselves.

This is definitely a major exercise in actuarial studies. I would like to know how situations where people contribute to both QPP and CPP at various times in their lives is handled.

you end the video talking about how Alberta is being unfair to Canada when Canada has done everything possible to destroy Albertas economy

Another Albertan here (by the way, also a Canadian :P) you need to follow the money behind the United Conservative Party (UCP) over here. Big Oil. That's it. Witness the recent halt on green energy development in this province. It's so transparent it's ludicrous. I question how an Albertan Pension Plan will invest our provincial dollars... cronyism anyone?

Alberta's Heritage Fund from its oil revenue (it's rain day fund) has been managed almost exclusively by Conservative governments and is worth $17B. Norway's is worth over $1trillion. Just on the face of it I'd say Alberta isn't very good at managing its finances, so I don't trust their calculations and neither should anyone else.

Of course one has to consider that not all of those who worked in Alberta, resided in Alberta. They came from all of the provinces & territories. Why should Alberta receive the money from those contributions?

CPP is a mess. The young generation paying for the older one's retirement.

This is an excellent feature and provides a great deal of clarity into how the Alberta Government arrived at the number they did. As a Canadian, obviously, I'd be upset to hear that the entire CPP should be gutted to fund Alberta's new plan. I'd be very upset if the retirement pensions of 34 million Canadians should be flushed down the toilet to benefit 4 million Albertans.