Alberta’s proposal to leave the Canada Pension Plan has roiled debate across the country, and discussion on the topic within the province has been complicated by some misleading and false statements from Premier Danielle Smith’s government. As Albertans seek clarity on what a provincial pension plan would look like, the so-called Quebec model appears to still be on the table despite Alberta's finance minister saying otherwise, and the premier herself has made support for the project seem larger than it is by giving inflated numbers for those who participated in the Fair Deal panel.
Smith says the province is looking at leaving the CPP because 350,000 residents have directly urged the government to explore it. Smith’s own office has contested that claim, putting the number closer to 3,000, while at the same time, Smith’s finance minister, Nate Horner, has delivered contradictory statements on how Alberta’s fund will be invested surrounding the Quebec model.
The Quebec model
Alberta has passed legislation mandating that any funds transferred over from the CPP to an Alberta plan must be used for the plan, but what happens to investment returns after an Alberta plan is up and running has not been decided.
The Quebec pension plan, which has always been separate from the CPP, has a duel mandate to maximize returns but also to invest in provincial projects and the economy.
The prospect of bringing the so-called Quebec model to Alberta has raised concerns from some that the fund could be depleted by the government of the day diverting funds to pet projects and potential business boondoggles.
However, on Oct. 12, Horner told podcast interviewer the Quebec model would not be used.
Rating: Misleading
Horner has delivered multiple, conflicting explanations to different audiences at different times for three months on whether Alberta will use the Quebec model.
“We don't believe in going down the model that Quebec has,'' Horner told Jespersen about 13 minutes into the podcast.
"We want everyone to know clearly that this (Alberta investment model) will be for the operation of the pension plan.''
Days later, his office issued a statement saying the Quebec model was still in play, stating, “Albertans have the final say on the mandate of the investment manager, and the engagement panel will hear whether Albertans want that mandate to be solely focused on maximizing returns, or whether it should have a dual mandate that also focuses on economic development in Alberta, similar to Quebec’s pension manager.â€
On Dec. 6, Horner rejected an Opposition amendment to a bill on the pensions that would have ruled out the Quebec model. Horner told the the amendment was "redundant" because “future contributions of employers and employees would solely be used to set up and operate a provincial pension plan."
The issue was further confused two days later when Horner again told it’s up to Albertans to decide whether they want to use the Quebec model, adding “I have never flip-flopped on this issue.â€
The Fair Deal panel
Smith told her provincewide Corus call-in radio show on Oct. 14 that the genesis of the pension debate was the 2020 report from Alberta’s Fair Deal panel, which heard from Albertans on ways the province could get a better deal in Confederation.
“We got, I think, 300,000 people that participated in our in-person engagements before (at the Fair Deal panel),†Smith told the audience around 23 minutes into
Rating: False
The information in the indicates about 2,500 people directly participated in the in-person town hall sessions, with an unknown number attending other town halls run by legislative assembly members.
Two days later, Smith's office, in an emailed statement, confirmed "The premier misspoke and was referencing the approximate 3,000 (not 300,000) people that had participated in previous engagements."
However, Smith, in an Oct. 25 keynote address to the Edmonton Chamber of Commerce, returned to the 300,000 number, and added more, stating that 350,000 attended the Fair Deal panel at about the 1:58 mark in a recording provided by
On Nov. 1, Smith repeated that figure to the house during , stating "The Fair Deal panel discussions that took place over four years ago had 350,000 people who participated.â€
Smith's office did not reply to a Nov. 1 request for comment from ºÚÁϳԹÏÍø explaining the 350,000 number.
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