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Alberta says Quebec pension model back on table in Canada Pension Plan exit debate

EDMONTON — A spokesperson for Alberta’s finance minister says the proposal to have a future provincial pension plan mirror the Quebec investment model remains up for consideration. 

The statement from Savannah Johannsen comes less than a week after Finance Minister Nate Horner said the idea was off the table. 

Johannsen says Albertans would have the final say on how any Alberta pension plan is managed, and that includes deciding whether it should follow the Quebec pension plan investment model.

Quebec’s model has a dual mandate to maximize investment returns but also to invest in the provincial economy.

That has led to concerns that managers with an Alberta pension fund could make questionable investment deals, including doubling down on oil and gas in the age of ascendant renewables.

On Thursday, Horner told the Ryan Jespersen online show he has heard those concerns and that any Alberta pension plan would focus on maximizing returns.

This report by The Canadian Press was first published Oct. 17, 2023.

The Canadian Press

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