Premier of Alberta Danielle Smith speaking in Medicine Hat on October 18, 2023

By Lisa Parent

Provincial Politics

Premier Smith calls Trudeau’s Canadian Pension Plan letter ‘inappropriate’

Oct 18, 2023 | 5:01 PM

MEDICINE HAT, AB – Today, Premier Danielle Smith was asked about a letter she received from Prime Minister Trudeau stating Canada will do all it can to prevent Alberta from leaving the Canada Pension Plan (CPP). This comes after a day after the CPP board criticized Alberta’s survey on leaving the plan

In the letter, Trudeau said the move would cause “undeniable” harm and weaken the pensions of millions of people across Canada. Trudeau criticized Smith’s timing of proposing CPP exit amidst global challenges, accusing her of increasing uncertainty and instability.

Premiere Smith says the letter from Prime Minister Trudeau was inappropriate, and was made to prove a political point after losing a Supreme Court ruling on Friday.

“He’s trying to overstate it, to make some kind of political point and quite frankly I just don’t think that that’s helpful,” explains Smith. “I think we should allow for the process to play out, let Albertans decide because we do have a constitutional right to manage our pensions, under section 94 of the constitution if the Prime Minister would like to look that up.”

A report the province commissioned says Alberta is entitled to more than half the assets of the $575-billion fund. Smith says because of Alberta’s younger population and higher workforce participation, the province has overpaid into the Canada Pension Plan.

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“There’ll be some impact to the rest of Canada if Alberta chooses to go it’s own way with the assets we believe we’re entitle to, but it’s a matter of $175 per person,” says Smith.

Smith adds that it would be more constructive for the Prime Minister to offer an alternative calculation, rather than a letter.

“We believe that this is a decision that should be made by Albertans,” says Smith. “It’s why we’re putting forward pension legislation in the fall. (It) guarantees that benefits will be the same or higher contributions will be the same or lower. All the assets transferred would be for the purpose of supporting our seniors and the pension plan.”