News & Updates
Alberta Bill 2, the Alberta Pension Protection Act, outlines structure for creating an Alberta Pension Plan
November 22, 2023
Alberta has introduced Bill 2, the Alberta Pension Protection Act, outlining a framework for the implementation of an Alberta Pension Plan (APP) that would take on the obligations and liabilities of the Canada Pension Plan (CPP) in the province.
If passed, Bill 2 will provide four guarantees:
- The establishment of a provincial pension plan will only occur if supported by Albertans through a referendum.
- Contribution rates under an APP will be equal to or lower than those of the CPP.
- The APP must provide benefits to Albertans that are equal to or better than those offered by the CPP.
- Any assets transferred from the CPP to Alberta will be exclusively utilized for the setup and operation of the APP.
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