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Ontario finance minister calls for meeting with Freeland over Alberta's proposed CPP exit

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Alberta’s proposal to leave the Canada Pension Plan (CPP) could cause “serious harm” to working people and retirees, Ontario’s finance minister said in an open letter published Wednesday.

Peter Bethlenfalvy addressed the letter to Deputy Prime Minister and Finance Minister Chrystia Freeland and called for an “urgent” meeting to discuss the proposal with Canada's federal, provincial, and territorial finance ministers

The letter comes after Alberta Premier Danielle Smith released a third-party report last month that suggested the province will be entitled to $334 billion by the time it leaves the CPP in 2027 -- more than half of the fund's assets -- and said public feedback would determine the need for a referendum.

Since 2020, Smith's United Conservative government has argued that Albertans are paying disproportionately into CPP and said it would get a better deal if it developed its own pension plan. Today, I sent a letter to the Deputy Prime Minister and Federal Minister of Finance, Chrystia Freeland requesting she convene an urgent meeting of Canada’s federal, provincial and territorial finance ministers to discuss Alberta’s proposed withdrawal from the Canada Pension Plan.“If Albertans decided a referendum to pull out of the CPP, they will be able to do that, but it's a one way ticket,” Boissonnault said, who also happens to be an Alberta MP.

 

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