Canada Pension Plan
The Alberta Government is contemplating pulling Alberta out of the Canada Pension Plan to create an Alberta Pension Plan (Coulter & Zapata, 2024). It is imperative that Albertans learn more about the Canada Pension Plan and the proposed Alberta Pension Plan. On June 6, 2024, CPP Investments gave a presentation to SWAA members and you can watch the presentation at https://youtu.be/ic-LgdinERg.
“Canada Pension Plan Investment Board (CPP Investments, 2024) ended its fiscal year on March 31, 2024, with net assets of $632.3 billion, compared to $570.0 billion at the end of fiscal 2023. The $62.3 billion increase in net assets consisted of $46.4 billion in net income and $15.9 billion in net transfers from the Canada Pension Plan (CPP Investments, 2024).”
Overview of CPP Investments
“CPP Investments is a global investment management organization. We invest the assets of the Canada Pension Plan (CPP) not currently needed to pay pension, disability and survivor benefits. Our critical purpose is to help provide a foundation upon which more than 22 million Canadians can build their financial security in retirement. This purpose, our track record of performance and a committed, disciplined team have earned CPP Investments an international reputation for excellence (CPP Investments, 2024).”
Download the CPP Investments Fact Sheet from March 2024.
References
Coulter & Zapata. (2024, June 10). Viewpoint: Alberta pension plan poll reveals mixed opinions. CBC News. https://www.cbc.ca/news/canada/calgary/viewpoint-alberta-pension-plan-poll-1.7151862
CPP Investments. (2024, May 17). CPP Investments net assets total $632.3 billion at 2024 fiscal year end. CPP Investments. https://www.cppinvestments.com/newsroom/cpp-investments-net-assets-total-632-3-billion-at-2024-fiscal-year-end
CPP Investments. (2024, March). Fact Sheet.