Leaving the Canada Pension Plan concerning for many Albertans
By Lethbridge Herald on November 10, 2023.
Editor:
As a staunch Canadian (immigrant as child), and a long-retired federal civil servant of 30 years, I dread the possibility of an Alberta Pension Plan eroding the security currently provided by the Canada Pension Plan to me and millions of fellow-Albertans!
However, while in the Nov. 3 Herald, on page A4, MLA for Taber-Warner exhorts us to ‘read APP report” – no reference is provided. Searching under the report’s title, “Alberta Pension Plan – Analysis of Costs, Benefits, Risks and Considerations,” August 2023 by Lifeworks, one can find this link:
Those with access to the online version of the Herald, just a simple click or ‘select’ and ‘paste’ into your browser gets you there.
An item of interest from the LifeWorks report concerning Federal Retirees is found in Table A.2.1 on page 39 as follows:
“Federal civil servants employed in Alberta who are not Canadian Forces or RCMP would transfer to APP, assuming Alberta makes agreement with federal government but In the absence of agreement with the federal government, CPP Act provides that CPP would continue to apply.”
Let’s hope the federal government never does make such an agreement with Alberta!
Hans-Henning Muendel
Lethbridge
11-10
https://financialpost.com/personal-finance/taxes/higher-income-earners-contributre-more-cpp-get-more
Comments are worth the read.