Finance Minister to Discuss Alberta's Withdrawal from Canada Pension Plan

OTTAWA — Finance Minister Chrystia Freeland says she will meet provincial and territorial finance ministers later this week to discuss the possibility of Alberta's withdrawal from the Canada Pension Plan.

Alberta Premier Danielle Smith said last week her government stands by its assertion that the province deserves $334 billion if it leaves the CPP, which represents more than half of the plan's assets. The Alberta government has been advertising the benefits that it says could come to Albertans with a transfer out of the CPP, but economists and the Canada Pension Plan Investment Board say the amount Alberta would get would be half of what is being advertised, at best.

"For six decades, the CPP has been the bedrock of a secure and dignified retirement for Canadians, very much including the people of Alberta," Freeland said at a news conference in Ottawa on Tuesday.

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