REUTERS/Susana Vera/File Photo Acquire Licensing RightsOTTAWA, Nov 3 (Reuters) - Canada will face rising economic uncertainty if the province of Alberta carries out a threat to withdraw from the Canada Pension Plan (CPP), federal Finance Minister Chrystia Freeland said on Friday.
Alberta Finance Minister Nate Horner later on Friday said the province would not leave fellow Canadians without a stable pension and its associated benefits.
"For the past several weeks, Alberta has been having an open discussion about the possibility of establishing an Alberta Pension Plan that will benefit our seniors and workers," he said.
The so-called Alberta Pension Protection Act would require Albertans to vote in favor of a pension plan for the province during a public referendum before the provincial government would seek to withdraw assets, the statement said.
"Alberta would need to negotiate complex time-consuming portability agreements with the CPP and with the Quebec Pension Plan," she said.
Persons:
Finance Chrystia Freeland, Susana Vera, Chrystia Freeland, Freeland, Nate Horner, Justin Trudeau's, Danielle Smith's, Smith, Trudeau, Pierre Poilievre, Maiya Keidan, David Ljunggren, Kirsten Donovan, Paul Simao
Organizations:
Finance, IMF, World Bank, REUTERS, Rights OTTAWA, Canada, federal, Alberta, Liberal, Danielle Smith's United Conservative Party, Conservative Party, Thomson
Locations:
Marrakech, Morocco, Canada, Alberta, Quebec, Toronto, Ottawa