Alberta’s proposal to leave the Canada Pension Plan elicited a strong reaction from Federal Retirees members.
On Sept. 21, 2023, the Alberta government presented the report it commissioned on the possibility of leaving the Canada Pension Plan (CPP) and creating an Alberta Pension Plan.
That same day, the National Association of Federal Retirees asked members whether they support the Alberta government’s proposal to exit the CPP. Members reacted decisively. In one day, over 10,000 members responded, with the majority — 95 per cent — opposing the proposal. When asked whether Federal Retirees should be actively involved in defending the CPP and Quebec Pension Plan, 95 per cent responded with a resounding “yes!”
Members also shared more than 3,000 comments with us, and the message was clear: the Alberta government should keep its hands off the CPP.
“I collect CPP. It isn't just my own CPP I'm worried about, it would be my children and their children. This is just wrong,” said one member. This is a message that was repeated time and time again by survey respondents both in Alberta and outside of the province.
“This scheme is flawed, based on bad assumptions, and is a threat to retirement security for all Canadians,” said one member from Alberta. “I would hate for myself as an Albertan to be further impacted by the whim of the [provincial government],” said another.
“Many respondents said the CPP is a vital part of their retirement income, and losing any of it will change their ability to pay their bills,” said Association CEO Anthony Pizzino. “All Canadians deserve retirement income security, and weakening the CPP for all of them is unacceptable.”
The CPP is one of the largest pension plans in the world, with assets that are sustainable for generations. It is the cornerstone of Canadians’ retirement, giving 21 million participants access to a portable, secure source of retirement income.