Re: Letter: Put your money where your mouth is and Letter: More knowledge might change thinking on Alberta Pension Plan
I’m not sure where Mr. Thatcher got his information regarding the replacement of CPP and OAS. As to my knowledge, there has not been a referendum for ‘many’ Albertans to have their say about the creation of an Alberta pension plan.
Albertans are in the communication period of learning about, gathering knowledge and information, asking questions about a provincial employee-employer pension plan.
I have not heard any talk about the Old Age Security being replaced. The CPP/APP talks have nothing to do with the OAS and the GIS. The OAS/GIS is a federal program with benefits for seniors over the age of 65 coming from general tax revenues.
As we are aware, the CPP was set up in 1966 for the purpose of a pay-as-you-go system. In the '90s, the benefits paid out exceeded the income. Hence, the investment board was created to manage and invest contributions for future benefit payments.
The CPP benefit comes from employee-employer contributions and investment profits. This is where we are today.
As for the comments about government management of money, the OAS benefit is paid from federally-controlled general tax revenues. The CPP Investment Board, created in 1998, is managing the investments from the contributions.
An Alberta Pension Plan would have an independent board and would operate the same way. It’s a requirement of a change over.
As for trusting a government with dealings of public employees, teachers and health-care system, all provinces are in the same boat. Maybe it’s time for a conversation to come up with some solutions instead of public backstabbing and misinformation.
As for a private sector, it is needed for independent identity, efficiently operated, and robust competition of this province and country. If all people/businesses follow the same path, what is our purpose?
As for the premier and her small group, there was an election in 2023 in which the majority of people voted for the UCP. I know for sure that when a referendum is put to the people of Alberta, it will not include anything about replacing CPP or (especially) OAS. The CPP will be called APP, not replaced just moved.
Ms. Trewin’s letter is spot on with information. Albertans, especially the current contributors, should investigate this topic and get informed so as to make a deciding vote. We are bombarded with misinformation and need to figure out the facts by educating ourselves on any topics that affect us.
All this may be for nothing if the federal government continues to tax us to poverty.
Darla Bornholdt,
Mountain View County
