No Matter Which Formula, Albertans Win With An Alberta Pension Plan

From the Alberta Institute

Guest Post By Lindsay Wilson

Opponents of the Alberta Pension Plan (APP) have wasted no time busting out the pitchforks, with their legacy media lapdogs hard at work toeing the line for the union big wigs and their NDP friends.

It’s merely weeks into the launch of a province-wide public consultation to educate and get feedback from Albertans on an APP and there is no shortage of Trudeau-funded media penning pieces laden with misinformation.

They’re pushing a fear-based narrative that has seniors running scared and reasonable people questioning whether the bold move isn’t a little selfish which is no different than what Quebec has been doing — quite successfully — since day one.

For us here at Alberta Proud, we not only think opting out of the Canada Pension Plan (CPP) and establishing an APP is a great idea — it’s a critical step toward more Alberta autonomy.

If we don’t, will we ever achieve much of anything in the arena of autonomy? Think about it: if we can’t win a referendum on the one thing we don’t need permission from Ottawa to do, where does that leave us?

More Alberta and Less Ottawa isn’t just a pie in the sky for us at Alberta Proud. It’s our mantra.

We genuinely believe enough is enough. It’s time for Ottawa to take a hike, including their antiquated equalization formula that you voted 62% in favour of scrapping.

We now have an opportunity to leave the CPP, in favour of a made-in-Alberta plan which must offer the same or better benefits. And it will, without question, put more money into your pocket every year as we finally won’t be overcontributing.

The newest twist in the anti-APP narrative is casting doubt on the formula the independent, government-commissioned LifeWorks report produced: that 53% of the CPP assets ($334 billion) would be owed to Alberta.

By switching to an APP, that translates to putting an additional $1,425 back into each employee’s pocket, according to LifeWorks, and when you consider the employer’s contribution, that amount is effectively doubled.

That’s a huge incentive for Alberta employers, those coming here to work and for the majority of hard-working everyday people who are drowning in this era of inflation (or #justinflation as we like to call it at Alberta Proud).

Meanwhile in the mainstream media, economist Trevor Tombe is balking at the math, claiming Albertans will be owed around one-third of what LifeWorks has assessed.

While it may seem odd everyone is arriving at different numbers, here is the kicker: even if we leave with only 17% (among the lower estimates floating around and not the 25% estimated by Tombe or the 53% estimated by LifeWorks) it’s still a better deal for Albertans.

But how, you ask? Simply put, we would finally get a break from this hidden transfer program, which is yet another way in which hardworking Albertans subsidize the rest of the country.

We have a comparatively younger population and because of this, we have paid more than we have collected. It has always been this way for us, and it doesn’t look like that will change. In the past year, a record 185,000 new Albertans moved here to work and take advantage of our low taxes and abundant opportunities. Any way you slice it, our contribution rate would fall.

Another concern is around who will manage an APP.

While the opposition is quick to point out CPP investment returns have been decent and that an APP would be best not left in the hands of AIMCo, did you know we could very well use the same pension fund manager as the CPP or another arms-length, third party?

By putting Alberta first, you will not risk your pension.

By switching to an APP, you will put more money in your pocket.

Ottawa has long turned its back on Albertans and continues to hit us with eco-radical regulations that will leave us broke and freezing in the dark. If we stay in the CPP, we are sending them a message that they can keep pushing us around, forever, no matter what they do to us.

It’s time for a change.

So, take a moment to fill out the Alberta government survey.

Send emails to your MLA, Finance Minister Nate Horner and Premier Danielle Smith. Show up to the townhalls.

Alberta’s future of more autonomy depends on all of us getting loud and Alberta Proud!

Lindsay Wilson is the President of Alberta Proud, a group of citizens concerned about Alberta’s future within Canada.

Related Topics:#AIMCo #AlbertaInstitute #AlbertaPensionPlan #AlbertaProud #CanadaPensionPlan #LindsayWilson #PensionFundManager App CPP

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Official statement from Premier Danielle Smith and Energy Minister Brian Jean on the start-up of the Trans Mountain Pipeline

Published on May 1, 2024

Government of Alberta

Alberta is celebrating an important achievement for the energy industry – the start-up of the twinned Trans Mountain pipeline. It’s great news Albertans and Canadians as this will welcome a new era of prosperity and economic growth. The completion of TMX is monumental for Alberta, since this will significantly increase our province’s output. It will triple the capacity of the original pipeline to now carry 890,000 barrels per day of crude oil from Alberta’s oil sands to British Columbia’s Pacific Coast.

We are excited that Canada’s biggest and newest oil pipeline in more than a decade, can now bring oil from Edmonton to tide water in B.C. This will allow us to get our energy resources to Pacific markets, including Washington State and California, and Asian markets like Japan, South Korea, China, and India. Alberta now has new energy customers and tankers with Alberta oil will be unloading in China and India in the next few months.

For Alberta this is a game-changer, the world needs more reliably and sustainably sourced Alberta energy, not less. World demand for oil and gas resources will continue in the decades ahead and the new pipeline expansion will give us the opportunity to meet global energy demands and increase North American and global energy security and help remove the issues of energy poverty in other parts of the world.

Analysts are predicting the price differential on Canadian crude oil will narrow resulting in many millions of extra government revenues, which will help fund important programs like health, education, and social services – the things Albertans rely on. TMX will also result in billions of dollars of economic prosperity for Albertans, Indigenous communities and Canadians and create well-paying jobs throughout Canada.

Our province wants to congratulate the Trans Mountain Corporation for its tenacity to have completed this long awaited and much needed energy infrastructure, and to thank the more than 30,000 dedicated, skilled workers whose efforts made this extraordinary project a reality. The province also wants to thank the Federal Government for seeing this project through. This is a great example of an area where the provincial and federal government can cooperate and work together for the benefit of Albertans and all Canadians.

Alberta

Protecting the right to vote for Canadian citizens: Minister McIver

Published on May 1, 2024

Government of Alberta

Minister of Municipal Affairs Ric McIver issued the following statement in response to Calgary City Council’s vote to extend the right to vote to permanent residents:

“Yesterday, Calgary city council passed a motion advocating for permanent residents to be extended the right to vote in civic elections. Alberta’s government has been clear since the beginning: only Canadian citizens are able to vote in civic elections. That will not be changing.

“The Canadian Charter of Rights and Freedoms affirms the right of every Canadian citizen to vote and to run as a candidate. This right extends to voters in municipal, provincial and federal elections.

“Protecting our democracy is of the utmost importance. Our provincial election legislation, like the Local Authorities Elections Act, has also been clear since its inception that voting is a right of Canadian citizens.

“Alberta’s government is also ensuring that voting is accessible for more Albertans. The Municipal Affairs Statutes Amendment Act proposes to enable special ballot access for any voter who requests it, without having to provide any specific reason such as physical disability, absence from the municipality or working for the municipal election. The ministries of Seniors, Community and Social Services and Service Alberta and Red Tape Reduction are also making it easier for individuals to obtain the identification Albertans need for a variety of services, including the ability to cast a ballot.

“Our government will continue to protect the integrity of our elections and make sure voting is accessible for all Albertans who are Canadian citizens.”