There’s growing concern across Alberta as Premier Danielle Smith pushes forward with plans to withdraw the province from the Canada Pension Plan (CPP). Her proposal to create a new Alberta-only retirement fund—called the Alberta Pension Plan (APP)—has stirred controversy, confusion, and backlash from both the public and experts.
Many Albertans feel like their retirement savings are being turned into a political experiment, and the numbers backing the plan just don’t seem to add up.
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Opinion
What do Albertans actually think about leaving CPP? The government’s own survey—hidden from the public for nearly two years—says it all:
| Opinion | Percentage |
|---|---|
| Want to stay in CPP | 63% |
| Support leaving CPP | 10% |
The results were only released after Alberta’s privacy commissioner forced them into the open. This secrecy has left people feeling frustrated and misled, especially since these numbers were kept hidden during critical public consultations.
Concerns
The CPP is one of the most stable and trusted retirement systems in the world. It’s nationally managed, portable across provinces, and funded by both workers and employers. Many see it as a system that simply works—and the idea of leaving it sparks real fear.
So, why would Alberta want to leave? According to Premier Smith, Alberta could claim a massive share of CPP assets—originally claimed at $334 billion. But this figure has since been widely debunked.
Facts
Here’s a breakdown of the real numbers:
| Detail | Amount |
|---|---|
| Alberta’s claim | $334 Billion |
| Chief Actuary’s estimate | $135 Billion |
| Independent economist estimate | 20–25% of CPP |
| Credibility of CPP | High trust globally |
Even Trevor Tombe, an economist who was consulted by Smith’s own office, confirmed that the $334 billion figure was inaccurate. This suggests the entire pitch may have been based on inflated expectations.
Strategy
Many critics argue that the Alberta government’s rollout of the APP proposal was flawed and designed to sway public opinion. Here’s what happened:
- Ads were heavily one-sided
- Town halls were phone-in only, limiting public dialogue
- The survey didn’t even ask directly if people supported leaving CPP
- Participants had to watch a video first, which promoted the idea that Alberta would “pay less and get more”
That phrase—“pay less and get more”—has been called misleading by economists, since it’s not the province paying into CPP. It’s the workers and employers.
Risks
Leaving the CPP is not like switching phone plans. Once Alberta leaves, there’s no turning back. Some of the biggest risks include:
- Long-term legal battles with the federal government
- Huge costs to set up a new pension system
- Loss of a stable and proven retirement fund
- Uncertainty for retirees and future pensioners
This decision could affect the financial futures of millions of Albertans—and many fear the damage could be permanent.
Trust
The Canada Pension Plan is a rare example of something most Canadians agree on. It’s well-managed, financially healthy, and has served generations. Replacing it with an untested, politically controlled pension plan carries too many unknowns.
Most Albertans simply don’t want that risk. They want to keep their savings in a secure and trusted system—not in the hands of politicians trying to score points.
The CPP may not be perfect, but it’s proven, portable, and professional. And when it comes to retirement savings, those are three things you don’t want to gamble with.