•  grte   ( @grte@lemmy.ca ) 
    28•9 months ago

    “For something this big, Albertans deserve the benefit of a rational, adult conversation.”

    And we are going to make one of the central premises of this rational, adult conversation that Alberta is owed over half the CPP’s fund.

    Please.

    Better headline:

    “UCP wants to raid CPP to feed more money into O&G.”

    •  blindsight   ( @blindsight@beehaw.org ) 
      16•9 months ago

      Exactly. The only reason to push separation from the CPP so hard is because they want to meddle in the investment selection process to prop up specific companies in violation of the fiduciary responsibilities of the pension manager and at the cost of Albertans’ pension growth and stability.

      The only other angle I can think of is separatists deliberately trying to fracture Alberta away from Canada.

      •  Jason2357   ( @Jason2357@lemmy.ca ) 
        10•9 months ago

        Not just to prop up O&G company stock prices, but also to further their long-running process of tying absolutely every Albertan’s financial well-being to O&G. Right now, if O&G drops, yeah, Albertans will lose jobs and the province’s social services go unfunded, but they still have CPP to rely on. With this change, their retirement will also vanish.

        The more they go “all in” on O&G, the more every voter in Alberta absolutely NEEDS the O&G industry to remain profitable. Keep that going, and the political party that is most pro-O&G will stay in power perpetually.

          •  Someone   ( @Someone@lemmy.ca ) 
            5•9 months ago

            Exactly, I don’t know the actual statistics (as the OC didn’t provide any) but if they actually are paying in more than they’re receiving it means they have a lot more workers than retirees. Sounds like a good deal when factoring in other provincial costs like healthcare for example.

          •  m0darn   ( @m0darn@lemmy.ca ) 
            3•9 months ago

            Oh man, I feel dumb. Yeah I was thinking of ei.

            I mean I can still imagine them being upset because they think they make more contributions than they receive in payouts… (false assumption like I just made).

    •  blindsight   ( @blindsight@beehaw.org ) 
      2•9 months ago

      Alberta is younger than most provinces on average, isn’t it? Maybe an equal share is right, though, since average income is higher in Alberta.

      Still, compound growth is huge, so even a small change in average age would have a big impact on portfolio valuation.

  •  AutoTL;DR   ( @autotldr@lemmings.world ) BEnglish
    2•9 months ago

    This is the best summary I could come up with:

    Alberta is to begin telephone town-hall consultations with the public starting next week on whether to quit the Canada Pension Plan.

    An engagement panel led by former provincial finance minister Jim Dinning announced Thursday there will be five 90-minute town-hall discussions over six weeks, each session focused on getting feedback from a different region.

    “Now that the LifeWorks report is out for discussion, our panel has been tasked with listening to Albertans and hearing their thoughts, views and concerns about a provincial pension plan,” Dinning said in a statement.

    The NDP says Albertans have already made their feelings known in numerous public surveys that suggest a majority don’t want the province to touch CPP.

    The NDP is holding its own online consultation with Albertans on the topic on Oct. 19 at 6:30 p.m., hosted by caucus finance critics Shannon Phillips and Samir Kayande.

    “The fact that the so-called [government] consultation on the future of the Canada Pension Plan does not include any in-person town halls is a move of pure cowardice,” she said.

    The original article contains 458 words, the summary contains 172 words. Saved 62%. I’m a bot and I’m open source!