TRUDEAU SENDS OPEN LETTER TO ALBERTA PREMIER OVER DESIRE TO PULL PROVINCE OUT OF CPP
Oct 18, 2023
By Bob Komsic
The way the prime minister sees it, Danielle Smith’s efforts to take her province out of the Canada Pension Plan is a risk to ”certainty and stability.”
Justin Trudeau says in a letter to the Alberta leader that with all the uncertainty Canadians face, they ”should not have to worry whether or not the Canada Pension Plan will continue to be there for them in their retirement.”
The prime minister goes on to point out ”Alberta’s withdrawal would weaken the pensions of millions of seniors and hardworking people in Alberta and right across the country.”
Trudeau ends by saying the harm it would cause is ”undeniable.”
A recently released independent report concluded, if Alberta pulled out, that it would be entitled to $334-billion — more than half of the fund’s assets.
Critics have questioned the math with the Canada Pension Plan Investment Board, that manages the assets, dismissing the number as ”basically invented.”
Trudeau says he’s instructed Cabinet and officials to take all necessary steps to ensure Albertans, and Canadians, are aware of the risks of Smith’s plan, and to do everything possible to ensure the CPP remains as is.