Alberta NDP Shifts Course, Commits to Staying in CPP for 2027 Election

The Alberta New Democratic Party (NDP) has made unexpected U-turn after pledging to abandon a proposed plan to withdraw from the Canada Pension Plan (CPP) if it secures victory in the 2027 provincial election.

The CPP is a federal pension program that provides retirement, disability, and survivor benefits to eligible Canadians. Established in 1966, it aims to ensure that all Canadians have access to a stable and secure source of income during their retirement years.

The CPP is jointly funded by employers and employees across the country and is managed by the Canada Pension Plan Investment Board (CPPIB).

The Alberta NDP’s announcement has ignited a fierce debate over the future of the CPP and the potential consequences for the province’s retirees with Opposition New Democrats promising to kill the idea if they win.

According to Opposition finance critic Samir Kayande, as a last resort an NDP government would cancel the plan at the late date regardless of whether voters in Alberta vote in favor of ditching the CPP in a referendum.

The idea of withdrawing from CPP has been a bone of contention for several years. Advocates argue that an Alberta Pension Plan (APP) could offer greater control and potentially better returns on investments.

On the other side, critics feel that leaving the CPP could have dire consequences, including reduced benefits for current and future retirees, increased administrative costs, and uncertainty surrounding investment management.

Kayande says Albertans have already voiced out their concerns and they don’t want Premier Danielle Smith’s United Conservative government touching Canada’s $575-billion retirement nest egg.