Finance Minister Chrystia Freeland said Tuesday she would convene a meeting with her provincial and territorial counterparts later this week to discuss Alberta's proposal to pull out of the Canada Pension Plan.Deputy Prime Minister and Minister of Finance Chrystia Freeland holds a news conference in Ottawa on Tuesday.
"The CPP has been the bedrock of a secure and dignified retirement," Freeland said at a news conference. "I have heard the concerns of many Canadians, including many Albertans." "It doesn't leave CPP, you know, insolvent or inoperable. It means that the costs will have to go up somewhat. But my main task is having this conversation with Albertans," he said.
The plan has been panned by business groups, labour unions, the Liberal federal government, Conservative Leader Pierre Poilievre, pension experts, some academics and other provincial leaders.The CPP Investment Board, the Crown corporation that manages the pension plan, has also said Alberta's math is way off — with the fourth-largest province entitled to something closer to 16 per cent of the CPP funds if it were to ever pull out.
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