Friday, September 22, 2023

Canada’s $427 Billion Pension Roiled as Alberta Mulls Split

Bloomberg reports:

The Canadian province of Alberta took a step toward pulling out of the national pension plan with the release of a report that says its residents are entitled to more than half of the fund’s assets.

Conservatives who govern the oil-rich western province have long floated the idea of breaking away from the Canada Pension Plan as a way to assert more independence from the federal government. Their complaint is that the rest of Canada doesn’t recognize the Alberta energy industry’s economic importance and unfairly harms the sector with regulation. 

Not one big happy family.