The Canadian Association of Retired Persons, CARP, has sent a letter to finance ministers at all levels demanding that they “protect the integrity and security of our pensions” in response to the Alberta government’s plans to exit the national pension program, the CPP. “Older Canadians across the country are extremely concerned about this idea,” wrote Bill Van Gorder, the association’s executive director. “The proposal to exit, along with more than half of the CPP fund, and create a separate provincial plan is devastating for the country and is already spreading anxiety and uncertainty among retirees who fear their savings are in jeopardy.” Calculations have shown that the share of Alberta's national pension plan is worth $334 billion, and leaving the CPP would leave other provinces in the red.

Last week, debate in the provincial legislature on whether to hold a mandatory referendum before deciding was abandoned. Theoretically, any province could take a similar step with three years' notice.

And Quebec and Saskatchewan have long had their own pension plans. At the same time, Van Gorder wonders why anyone would want to break away. "Canada's senior citizens are part of its pension plan, which has become an example for the world," he says.

Yuri B