Alberta's finance minister says the asset transfer details will be released in the fall of 2024. (Virtus Group)

By Eli J. Ridder | @EliRidder

UPDATED

Alberta’s share of Canada Pension Plan to be calculated by fall 2024, minister says

Feb 15, 2024 | 4:44 PM

Albertans will find out this fall what share of the Canada Pension Plan’s assets they would be entitled to if the province left the national program, Alberta finance minister Nate Horner said Thursday.

The federal government in 2023 asked the chief actuary to come up with what Alberta would be owed based in an interpretation of the pension plan legislation.

However, the chief actuary wants to assemble a panel to interpret the asset transfer formula. That interpretation would form the basis of the actuary’s calculation.

“The federal government has indicated the panel’s interpretation will be ready this spring and the chief actuary’s calculation will be provided to Alberta this fall,” Horner said in a statement.

“I encourage Albertans to continue submitting their thoughts on a potential Alberta Pension Plan. The engagement panel is still accepting workbook submissions until the end of February while they do their analysis of the town halls and online survey.”

IN THE COMMUNITY

'Compassionate Friends' offer peer support for bereaved in Medicine Hat

1h ago

POSTAL STRIKE

Donations to Medicine Hat non-profits drop over Canada Post strike

1h ago

IN THE COMMUNITY

Medicine Hat's Adopt-A-Rink program still seeking volunteers

10h ago

READ MORE: New Alberta bill guarantees referendum in provincial pension process

During a first phase of engagement with Albertans over the United Conservative government’s proposed departure from the federal pension plan, Horner said the government “heard loud and clear” that more information was needed on what Alberta would receive in a CPP divorce.

Graphic by CHAT News.

Any departure from the CPP would require a referendum after Premier Danielle Smith’s government passed the Alberta Pension Protection Act.