Sask-Alta pension plan idea worth cautious consideration - Regina Leader Post
Former Premier of Saskatchewan, Brad Wall, is advocating for a Sask-Alta pension plan: called the Buffalo Pension Plan. This is a high profile politician that is proposing practical steps in the Western firewall.
"A piece by Calgary Herald columnist Chris Varcoe explores whether Albertans would really be better off with their own provincial pension plan replacing CPP. Varcoe obtained an internal report by the Alberta Investment Management Corp. (AIMCo), that suggests “by withdrawing from CPP, Albertans would see ‘a substantial benefit’ as their costs to contribute to a provincial plan would drop.’ ” According to the 19-page analysis obtained by Postmedia, the “sustainable pension contribution rate” would decrease to at least 7.21 per cent from the base levels in the current CPP of 9.9 per cent.
“An Alberta pension plan would lower contributions … relative to current CPP contributions for an equivalent set of benefits,” the report stated.” ...
There’s no reason not to objectively look at the potential of expanding into provincial pension plans"
And this isn't unchartered territory, Quebec has had it's own Quebec pension plan, the QPP, since 1966. Ottawa is an anchor. We need to cut that rope.