Alberta pays more to pension plans than what they get back: study
Posted April 3, 2019 11:50 am.
Last Updated April 3, 2019 11:51 am.
This article is more than 5 years old.
CALGARY (660 NEWS) – It seems Alberta workers are putting more money into pension plans than the rest of Canada.
A new study released Wednesday by the right-wing think tank Fraser Institute shows the figures for contributions to the Canadian Pension Plan (CPP) over the last 10 years. The study found that $27.9 billion has been put into CPP by Albertans but only a small margin was being paid out.
In 2017, the Fraser Institute found that Alberta workers made 16.5 per cent of all contributions to the Canada Pension Plan, but retirees in received just 10.8 per cent of CPP payments.
Alberta’s net contribution to the CPP was four times higher than Ontario, the next highest contributing province, with a net contribution of $7.4 billion over the same 10-year period.
