Thread by @yomeeks

This is your daily pension announcement: Actuary lays the boots to the Alberta Pension Plan. Malcolm Hamilton, a retired actuary and the most respected pension expert in Canada, had this to say about Jason and Travis' trial balloon of an APP pull out from CPP. #dontpullout

I quote from Pension Pulse: "There are many subsidies in a national pension plan. Men may subsidize women, who live longer. The poor may subsidize the rich, for the same reason. The healthy subsidize the less healthy." #handsoffmypension

"In the CPP and QPP, past generations had a better deal than future generations. Alberta may have subsidized other provinces in the past but that does not mean that Alberta will subsidize other provinces in the future. Its population and economy may change."

"DB pension plans never flourish where everyone seeks a subsidy and no one is prepared to subsidize. There needs to be some solidarity and some commitment to sharing. Otherwise the plans die... and few things are uglier than the death of a poorly funded DB plan." #dontpullout

Yeah, so much like Jason seeking a subsidy in Ottawa today, pulling out of CPP would lower contribution rates. But, that would be a subsidized by future generations. (As the population's average age increases the premium would increase.)

This is the worst of short term thinking.

I just want to bring you a short quote from the 2018 Annual Report of the Special Forces Pension Plan. (This plan covers municipal police officers; Edmonton, Calgary, Camrose and the like.)

"SFPP now joins most other Canadian public sector plans that have already received independence from government and moved to a joint-governance structure. The Plan is no longer bound by government or impacted by political winds." #holdmybeer

That is right they had just achieved joint sponsorship to be like ATRF as of March 1, 2019.

Then Jason Kenney said: "hold my beer."

#HandsOff

If you are a municipal police officer you should express your concern at Jason ensuring your plan is beholden to political winds.