Nate Horner, minister of finance, addressed reporters Friday as the first round of public engagement on the proposed Alberta Pension Plan completed. (Canadian Press)

By Eli J. Ridder | @EliRidder

‘Many Albertans’ oppose leaving federal pension program while others need more information, officials say

Dec 8, 2023 | 9:47 AM

EDMONTON, AB – Many Albertans were against leaving the federal pension program while others were in favour of a proposed Alberta Pension Plan during the province’s first round of public engagement, officials said Friday.

But a larger number of participants needed more information on the specifics, the head of public engagement added.

Over 76,000 Albertans participated in five telephone town halls and more than 94,000 completed an online survey.

The Alberta Pension Plan Engagement Panel will now take the feedback and analyze it, the panel’s chair Jim Dinning told a news conference.

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“It’s fair to say that we heard from many Albertans who oppose the idea of exiting the Canadian Pension Plan and moving to an Alberta plan, many of them passionate,” Dinning said.

“There is no doubt that this is a sensitive issue for a lot of people, but especially those who worry about a vital source of their retirement income.”

Dinning said others were “entirely in favour” of a provincial pension plan, with Alberta “taking control of the province’s destiny” and enhancing the financial sector, Dinning said.

“Others [were] supportive of an APP because of the savings it might offer, either higher benefits or lower premiums, or both,” he added.

“But there are many people who still need more information before deciding.”

Following discussions between Canada’s finance ministers, the federal finance minister committed to asking the independent office of the chief actuary of Canada to provide an opinion on Alberta’s share of the CPP assets, the province said.

Alberta officials said they are hopeful the chief actuary’s work can be completed promptly so that Albertans can have as much information as possible as they consider the possibility of a new plan.

The engagement panel has decided to give the chief actuary of Canada some time to release their findings before scheduling new public engagement sessions.

ALBERTA PENSION PLAN UNPOPULAR

A majority of Albertans think leaving the CPP for a proposed Alberta pension plan is a bad idea, according to recent polling.

More than five times more Albertans surveyed said an “APP” was a very bad idea compared to a very good idea.

Abacus Data surveyed 1,985 Canadians, including 500 Albertans, online between Sept. 28 and Oct. 5 to ask about awareness of the proposal.

Nationwide, 44 per cent of respondents thought it was a bad or “very bad” idea. In Wild Rose Country, 52 per cent of those polled were against it.

Seventeen per cent of Canadians said it was a good or “very good” idea, with 19 per cent of Albertans sharing that sentiment.