Canadian Finance Minister to Challenge Alberta Premier's Plan to Withdraw from Canada Pension Plan

TORONTO - 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 , in a meeting with provincial and territorial counterparts on Friday.

CPP Investments has made an annualized return of 10% over the past decade, according to its latest annual report. In comparison, the Alberta Investment Management Corp , which invests on behalf of 17 pension, endowment and government funds in the province, made 7.2% over the same period. AIMCo has not been considered a vehicle for a new Alberta pension plan.

University of Calgary professor Trevor Tombe said the Alberta government could instead negotiate with the finance minister in Ottawa, responsible for calculating the share of CPP assets owed to Alberta under the Act. However, he said it was "unlikely" they would come to an agreement.If Smith fails to agree on the calculation of assets to be transferred from the CPP prior to a referendum, then any calculation would have to be achieved through political negotiation or the court system.

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