Provinces are on edge as Alberta continues exploring leaving the Canada Pension Plan. On Wednesday, Ontario's finance minister said urgent action is needed from Ottawa. Morgan Black reports. – Oct 25, 2023The Alberta government has introduced legislation promising residents will get a say in a referendum on leaving the Canada Pension Plan, but the bill does not force the government to accept the result.
Finance Minister Nate Horner said it would be premature to enshrine in law a binding referendum commitment. “Whether it was our government or a future government, that would have to be made at that time.”Horner acknowledged there are concerns with the government’s pension-exit proposal, but said Albertans’ best interests remain at the forefront.
The Quebec model has prompted concerns an Alberta fund may be put at risk by investing in private ventures or in its oil and gas industry.On Oct. 12, Horner told the Ryan Jespersen online show that the Quebec model would not be followed and there would be legislation to confirm that. On Thursday, Horner said the Quebec model was still on the table and up to Albertans to decide.
The issue has raised concerns across Canada on what an Alberta pullout could mean. Federal Finance Minister Chrystia Freeland has convened for Friday a virtual meeting of provincial and territorial finance ministers to discuss the Alberta exit proposal.Federal, provincial, territorial finance minister meeting to come amid Alberta’s potential CPP exit: Freeland