Posted on Jul 6, 2020
UCP VOTE TO KILL BILL AIMED TO PROTECT ALBERTANS’ PENSIONS
EDMONTON – Despite public presentations from expert stakeholders arguing in favour of Bill 203: Pension Protection Act, a UCP-dominated committee voted to kill proposed NDP legislation that would have protected Albertans’ pensions and prohibit Alberta’s withdrawal from the Canada Pension Plan.
The Standing Committee on Private Bills and Private Members' Public Bills voted 6-4 against Bill 203: Pension Protection Act, sponsored by NDP Labour Critic Christina Gray, however, members of the assembly will still have the opportunity to vote in favour of debating and passing the bill in the Legislature.
“I want to remind Albertans that the UCP is still illegally suppressing the annual report of the Alberta Heritage Savings Trust Fund,” Gray said. “The information in the report would have been highly relevant to today’s committee meeting. They knew that and chose to hide it from Albertans.”
Tens of thousands of Albertans signed Gray’s petition at HandsOffMyCPP.ca and thousands have written to the Committee to express their opposition to the UCP plan to withdraw from the CPP.
“Jason Kenney and the UCP aren’t listening to the tens of thousands of Albertans, who are telling the government to keep their hands off their retirement,” said Gray. “It’s clear the UCP is set on killing legislation that would protect Albertans’ pensions. It’s shameful that they have been playing politics with Albertans’ hard-earned savings”
Recent losses by AIMCo highlight the risk associated with the forced transfer of Albertans’ retirement funds.
Bill 203 proposes to reverse the changes brought in through Bill 22 to pension plan administration, management and governance for over 400,000 Alberta workers' pension plans, including the Local Authorities Pension Plan, Special Forces Pension Plan, Public Sector Pension Plan and Alberta Retired Teachers Fund. The Alberta NDP will continue to fight for Albertans pensions by voting in favour of debating the bill when the vote is called on the floor of the Legislature.
“The message from Albertans is clear, they don’t want Jason Kenney anywhere near their retirement savings,” said Gray.