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Quebec RRQ vs Alberta CPP - Why not?


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In Quebec, we collect and manage our own pension scheme. Canada"s federal Constitution allows us to do this.

Why would Alberta be different?  Alberta should have its own CPPIB - if it wants.

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Pierre Trudeau ensured that our federal pension system is transferable.

Edited by August1991
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It is their choice and  i do believe that they will be given that opportunity if they want - but for alberta it's got more pros and cons than quebec for several reasons.

As long as there's no 'backsies' if it goes sideways i think they should consider it and decide what's best for them.

Trudeau doesn't want them to for fear everyone will and he won't have control over that money any more

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20 minutes ago, CdnFox said:

It is their choice and  i do believe that they will be given that opportunity if they want - but for alberta it's got more pros and cons than quebec for several reasons.

As long as there's no 'backsies' if it goes sideways i think they should consider it and decide what's best for them.

Trudeau doesn't want them to for fear everyone will and he won't have control over that money any more

The "backsies" is a Pierre Trudeau guarantee: the CPP/RRQ is transferrable..

Wherever you have worked in Canada, however wherever you paid in, you receive the same.

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There is a fiction that this "money is saved" - bas de laine, as they say. Maybe.

Norway - like the Caisse - has collected paper claims on real assets.

Edited by August1991
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21 minutes ago, August1991 said:

The "backsies" is a Pierre Trudeau guarantee: the CPP/RRQ is transferrable..

Wherever you have worked in Canada, however wherever you paid in, you receive the same.

no - 'backsies' would be if they switch to their own system, it crashes, and then the rest of canada has to pay to give them their benefits anyway

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I frankly like the Pierre Trudeau idea of RRQ/CPP. It is a federal system.

Across provinces, the rules should be similar for collection. And when you decide to receive a pension, you should  receive the same - more or less. If you work here or there, it should be included.

It is a federal scheme.

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What happens with the "money saved"? That's the question.

Our RRQ/CPP contributions are a payroll tax. 

 

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8 minutes ago, August1991 said:

As a young man, centuries ago, my English was not good. I worked in various parts of Canada.

Older, retired, I was surprised to learn that my work there counted.

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If you work in Alberta or Quebec, it should count.

Well that would be the benefit of a canada wide system

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4 minutes ago, Canadian_Cavalier said:

The APP would be very good for Albertans but very bad for national unity.

I don't think it would be a good idea for albertans.  I mean there's still room for debate and i'm not 100 percent convinced but i see mostly downsides and not a lot of upsides.  I think the potential for disaster is there.

As far as national unit goes i see your point, but honestly i dont think anyone would really care.

 

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The CPPIB and the Caisse are paper claims on real resources.

Foolish people in Norway believe that - because of their savings -  Norwegians will never have to work again. The Norwegian pension fund has some US $1.5 trillion - our Quebec fund is close. 

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My cat too will have food next morning.  

 

Edited by August1991
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On 11/1/2023 at 4:16 AM, Darrin said:

If I had to guess the Alberta pension plan will be used as leverage in future oil sands and pipeline development.  Were taking our half if u don't allow gateway or energy east. For example. 

That has been discussed in the past, but that is problematic for a few reasons.  Consider for example the boom and bust nature of the energy industry - a bust at the wrong time could leave the province unable to pay it's commitments and lead to financial hardship.

There's some other tricky issues as well.  There will have to be some serious thought and cool deliberations before a decision is made

Having said that if they give it serious thought and decide to go ahead i think that should be their choice

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At present, according to some calculations, the APP would have Cdn $350 billion.

The Norwegian Pension Fund has about $US 1.5 trillion,

In Quebec, the Caisse has about $300 billion.

These are fictional numbers. They are paper claims on real assets.

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There is a fundamental misunderstanding of current macroeconomic theory.

 

 

Edited by August1991
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On 11/1/2023 at 7:16 AM, Darrin said:

If I had to guess the Alberta pension plan will be used as leverage in future oil sands and pipeline development.  Were taking our half if u don't allow gateway or energy east. For example. 

In Quebec, the Caisse was used to build the REM.

An APP would make the road between Edmonton and Calgary like Germany - three lanes, and like the 407., paid.

On the left lane, drive as fast as you want!

Edited by August1991
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