Employment Minister Randy Boissonnault says while Alberta is legally allowed to withdraw from the Canada Pension Plan, doing so would be a 'one way ticket,' with no chance of return.
How the heck is this even supposed to work with cross province migration? I migrated from BC having paid the full amount into the CPP for many years and now Alberta gets to pay claim to it? What if I move after they seperate, two meager pensions? What a mess.
Quebec has had its own pension plan for a long time. I expect should we go through with this, it'd be a similar mechanism to however they handle it.
Still a terrible idea though, because the UCP literally can not do math, or successfully manage finances.
But, the idea isn't unique, Quebec already did it... And the fact that the UCP isn't pointing that out as justification to me speaks volumes about the political hatred for Quebec by the Albertan right wing.
I guess you could maybe just let all albertans who have retired take from the cpp going forward from the start date, then everyone after that just contributed to app, but that will take like 45+ years to fully switch over and need to deal with the overlap somehow throughout that time.
It works "fine" for QPP, so I assume it would be the same for APP. Out of all the very valid concerns over this plan, inter-provincial migration isn't really one of them.