Alberta Premier Danielle Smith has announced that her government will consult with Albertans over the coming months with an eye to holding a referendum on whether to leave the Canada Pension Plan (CPP) and create a separate program for Alberta. Experts indicate the process would be complicated and bring with it many unknowns. RCC has expressed concerns about the potential risks associated with Alberta creating an independent pension plan, given smaller funds have greater susceptibility to market turbulence, management errors that could negatively impact performance, and, ultimately, the cost of premiums. Additionally, questions around inter-provincial portability of pensions and how Alberta’s withdrawal could impact the retail sector in other provinces are unknowns that pose additional risk.
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