Alberta's finance minister, Nate Horner has given an update on the next steps for the Alberta Pension Plan (APP).

"During the first phase of our engagement on a potential provincial pension plan, we heard loud and clear that Albertans want more information on the value of the asset transfer Alberta would be entitled to if we were to withdraw from the Canada Pension Plan (CPP)," said Horner.

In a written statement Horner emphasized that the federal government committed late last year to asking the chief actuary of Canada to provide an opinion on Alberta’s share of CPP assets based on an interpretation of the CPP legislation.

"At that time, we were hopeful this work would be done promptly so we could provide it to Albertans. Recently, the federal government informed us that the chief actuary’s preferred approach is to strike a panel to interpret the asset transfer formula in the Canada Pension Plan Act. This interpretation would inform the chief actuary’s calculation."

The panel’s interpretation is expected to be ready this spring and the chief actuary’s calculation will be provided to the province later this year in the fall.  

"I encourage Albertans to continue submitting their thoughts on a potential Alberta Pension Plan. The engagement panel is still accepting workbook submissions until the end of February while they analyze the town halls and online survey," Horner wrote.

"The Alberta Pension Protection Act, passed last fall, locks in our promise that the decision on an Alberta Pension Plan will be made by Albertans in a referendum. We will continue to provide all the information necessary for Albertans to make an informed decision on our next steps." 

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