Our Fundraising mission
In 2020, the Alberta government engaged LifeWorks, an independent pension consultant, to assess the viability of an Alberta Pension Plan (APP). Their findings suggested significant advantages for Albertans, including a potential asset transfer $334+ billion from the Canada Pension Plan (CPP), promising a more stable and secure pension system. However, Alberta could establish its own plan without waiting for this transfer.
To spread awareness about these benefits, the Alberta First Pension Plan Group is conducting a fundraising campaign called “Drive to 335” to support advertising and educational initiatives. As of November 2024, we’ve collected contact information from about 30,000 Albertans interested in pushing for a referendum on the APP. Starting with a budget of $30,000, this translates to roughly $1 per contact. To reach the 300,000 contacts needed for a referendum, our group aims to raise $200,000, which would fund various outreach methods like social media, community meetings, and print advertising, though not traditional radio or TV due to budget constraints. However, exceeding this goal would allow for broader media exposure.
Our group is requesting a $20 donation from each person who signs up for the referendum. With 30,000 contacts contributing $20 each, this would generate $600,000, potentially making the Alberta Pension Plan a reality.
The potential benefits of an Alberta Pension Plan include:
Lower Contributions:
Moving to an APP could lead to significant savings for Albertans. Reports have estimated that Albertans could save over $5 billion in the first year alone by transitioning from the Canada Pension Plan (CPP) to an APP. This would mean lower contribution rates for both employees and employers, potentially saving workers up to $1,425 annually in payroll taxes, which translates to higher take-home pay. Businesses would also benefit from reduced premiums, potentially saving up to $1,425 per employee per year.
Increased Benefits:
An APP could offer enhanced benefits for Alberta seniors. The savings from lower contributions could be redirected to increase pension benefits or provide a lump sum payment at retirement, with estimates suggesting a bonus payment ranging from $5,000 to $10,000. This would mean higher pension benefits for Albertans than what they currently receive under the CPP.
More Control and Stability:
An APP would allow Alberta to manage its pension fund independently, providing more control over investment decisions and potentially leading to better management tailored to the province's economic conditions. The report highlights that with an initial asset transfer from the CPP, an APP could have a more stable financial base compared to the CPP, enhancing the security of pension benefits for Albertans.
Portability:
Similar to the Quebec Pension Plan (QPP), the APP would work within Canada's framework, allowing residents to move across provinces without losing their pension benefits. This would require agreements with other pension plans like the CPP and QPP to ensure seamless benefit coordination.
Economic Advantage:
By keeping contributions within Alberta, there could be an economic advantage in terms of investment and growth opportunities. This could theoretically strengthen the "Alberta Advantage," making the province more attractive for business by lowering costs and increasing disposable income for residents.