QV
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Well that's the worry I suppose.
2023 UCP Alberta election
- Thread starter Halifax Tar
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QV
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Colby Cosh: CBC's damning retraction of an unsubstantiated non-scandal in Alberta
Public broadcaster walks back mid-election news report alleging the premier pressured Crown prosecutors
nationalpost.com
National Post has picked up this story as well.
OldSolduer
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And its not only CBC that distributes BS. CTV is equally capable.
The last mayoral race in Winnipeg CTV declared Glen Murray elected as mayor. CTV and Glen have always loved each other, Glen quit as mayor, went to Ontario and got elected as an MPP then skipped to Alberta where he was accused of being a naughty boy.
Amazingly his rival won the election and CTV locally was the subject of much amusement for a number of weeks thereafter.
The last mayoral race in Winnipeg CTV declared Glen Murray elected as mayor. CTV and Glen have always loved each other, Glen quit as mayor, went to Ontario and got elected as an MPP then skipped to Alberta where he was accused of being a naughty boy.
Amazingly his rival won the election and CTV locally was the subject of much amusement for a number of weeks thereafter.
Brad Sallows
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These incidents are why the media don't deserve public funds or protection. The people arguing that media serve an important role first have to show that the media are reliably honest. The "public good" has no use for opinion journalism pushing social agendas.
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Agreed.
But they should still get government funding to support the ton of other parts of CBC that have nothing to do with national/provincial level political coverage, mainly small town news, radio, music, sports, etc.
Brad Sallows
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Arts, entertainment, and sports are at the bottom of the list of things deserving of public funding.
Halifax Tar
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Video from Aaron Gunn
Halifax Tar
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Didn't know where to put this... So here goes.
globalnews.ca
Canadians continue to be ‘Alberta bound’ by the tens of thousands | Globalnews.ca
Tens of thousands of Canadians were "Alberta bound" as they searched for a more affordable place to live amongst higher interest rates and home prices.
globalnews.ca
QV
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Not surprising at all.Didn't know where to put this... So here goes.
Canadians continue to be ‘Alberta bound’ by the tens of thousands | Globalnews.ca
Tens of thousands of Canadians were "Alberta bound" as they searched for a more affordable place to live amongst higher interest rates and home prices.
IKnowNothing
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There's definitely an appeal to lower real estate cost and lower income tax coupled with comparable services and spendingDidn't know where to put this... So here goes.
Canadians continue to be ‘Alberta bound’ by the tens of thousands | Globalnews.ca
Tens of thousands of Canadians were "Alberta bound" as they searched for a more affordable place to live amongst higher interest rates and home prices.
Halifax Tar
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From the National Association of Federal Retirees
Alberta presents plan to exit Canada Pension Plan
September 21, 2023
Today, the Alberta government released a report detailing just how Alberta plans to exit the Canada Pension Plan — which would have ripple effects on all Canadians. The proposal would amount to Alberta removing more than $330 billion — or almost sixty percent — of the Canada Pension Plan’s assets.
Since 1966, Canadians have confidently invested their retirement savings in the CPP. More than 650,000 Albertans are CPP beneficiaries, and Canada’s chief actuary reports that the CPP is sustainable for at least the next 75 years. The CPP invests sustainably and is protected from political interference, which can hurt the plan’s ability to pay pensions. The pension plan has helped lower poverty rates among seniors from 30 per cent in 1977 to two per cent in 2020.
But the Alberta government has proposed withdrawing from the Canada Pension Plan and setting up an Alberta pension plan. Proponents say it would enable investment in Alberta and cost less for Albertans because the province’s population is relatively young.
Danielle Smith, during the leadership campaign of the United Conservative Party (UCP), said of the CPP: “When you look at that program alone, that is clearly going to pay for whatever additional powers we take on board, whether it’s a new Alberta provincial police, which they say is another $170 million, or collecting our own personal income tax, which is $200 million.”
These estimates bely a fundamental misunderstanding of how the CPP works and the costs that would be associated with a new Alberta pension plan. It would take $525 million to administer each year. Alberta’s population is young because younger workers have migrated for oil and gas jobs, but that number has been shrinking over the past 10 years, which means the cost of an Alberta-only plan would increase over time. Today, adults over 65 make up the fastest-growing age group in Alberta, accounting for 15 per cent of the province’s total population or more than 725,000 Albertans. By 2040, that number is expected to nearly double, exceeding 1.1 million. By the mid-2040s, one in five Albertans will be over 65.
Finally, an Alberta pension plan could be susceptible to political pressure when it comes to investing. Large investments in projects with poor long-term prospects and returns would negatively impact the pension plans’ sustainability.
Pension plans are not a political bargaining chip. Albertans’ retirement savings should pay for one thing and one thing only: their retirement pensions.
The proposed Alberta pension plan is especially risk-laden for those nearing retirement who have spent their careers contributing to the CPP and depend on it for a significant portion of their retirement income.
An Alberta-only pension plan would mean high administration costs to set up and run as well as increasing costs for Albertans as the population ages, political interference in investments and uncertainty and risk for those who can least afford it.
Earlier this year, Federal Retirees CEO Anthony Pizzino penned an op-ed that appeared in the Globe and Mail. Pizzino begins by pointing out that a mere 21 per cent of Albertans feel the provinces should withdraw from the CPP, adding that the CPP continues to be well-funded and has always securely paid benefits.
Alberta presents plan to exit Canada Pension Plan
September 21, 2023
Today, the Alberta government released a report detailing just how Alberta plans to exit the Canada Pension Plan — which would have ripple effects on all Canadians. The proposal would amount to Alberta removing more than $330 billion — or almost sixty percent — of the Canada Pension Plan’s assets.
Since 1966, Canadians have confidently invested their retirement savings in the CPP. More than 650,000 Albertans are CPP beneficiaries, and Canada’s chief actuary reports that the CPP is sustainable for at least the next 75 years. The CPP invests sustainably and is protected from political interference, which can hurt the plan’s ability to pay pensions. The pension plan has helped lower poverty rates among seniors from 30 per cent in 1977 to two per cent in 2020.
But the Alberta government has proposed withdrawing from the Canada Pension Plan and setting up an Alberta pension plan. Proponents say it would enable investment in Alberta and cost less for Albertans because the province’s population is relatively young.
Danielle Smith, during the leadership campaign of the United Conservative Party (UCP), said of the CPP: “When you look at that program alone, that is clearly going to pay for whatever additional powers we take on board, whether it’s a new Alberta provincial police, which they say is another $170 million, or collecting our own personal income tax, which is $200 million.”
These estimates bely a fundamental misunderstanding of how the CPP works and the costs that would be associated with a new Alberta pension plan. It would take $525 million to administer each year. Alberta’s population is young because younger workers have migrated for oil and gas jobs, but that number has been shrinking over the past 10 years, which means the cost of an Alberta-only plan would increase over time. Today, adults over 65 make up the fastest-growing age group in Alberta, accounting for 15 per cent of the province’s total population or more than 725,000 Albertans. By 2040, that number is expected to nearly double, exceeding 1.1 million. By the mid-2040s, one in five Albertans will be over 65.
Finally, an Alberta pension plan could be susceptible to political pressure when it comes to investing. Large investments in projects with poor long-term prospects and returns would negatively impact the pension plans’ sustainability.
Pension plans are not a political bargaining chip. Albertans’ retirement savings should pay for one thing and one thing only: their retirement pensions.
The proposed Alberta pension plan is especially risk-laden for those nearing retirement who have spent their careers contributing to the CPP and depend on it for a significant portion of their retirement income.
An Alberta-only pension plan would mean high administration costs to set up and run as well as increasing costs for Albertans as the population ages, political interference in investments and uncertainty and risk for those who can least afford it.
Earlier this year, Federal Retirees CEO Anthony Pizzino penned an op-ed that appeared in the Globe and Mail. Pizzino begins by pointing out that a mere 21 per cent of Albertans feel the provinces should withdraw from the CPP, adding that the CPP continues to be well-funded and has always securely paid benefits.
Brad Sallows
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All the things that "might" happen pale in comparison to that straightforward calculation (by current rules). Going to be amusing watching panicked critics muster objections while trying to pretend it isn't just that one thing that has them panicked.
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So Premier Smith is on pretty solid legal ground, then, despite what the usual suspects in the media are saying?
How does the current CPP/QPP division work? If someone has worked in various provinces including Quebec, have they contributed to both? Is the pension you’re paid dependent on the province you worked in or the one you live in? If you move between Quebec and rest of Canada while a pensioner does it switch?
Brad Sallows
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The number is amusing, but unlikely. It isn't reasonable that the theoretical claims of the provinces could exceed 100% of assets.
The cat is still among the pigeons, though, because any formula accounting for contributions vs withdrawals is going to favour a younger population and/or one with high employment. That would likely force a recalibration of the key numbers of CPP: contribution rates, payouts, age.
Yes.
You can choose if eligible for either.
Apparently not.
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