The article that I found on page 24 of the Calgary Sun in 2014 (“CPP hidden cost”, QMI Agency, Sept. 2014) describes the hidden costs of managing the CPP. In the article the Fraser Institute claimed that in seven years the cost of managing the fund jumped from $600 million to $2 billion, year’s from 2006-2013. The article claims that in 2012-13 that $490 million was spent on operation, $782 million on external management fees, $177 million on transaction fees, plus $586 million for federal government’s administrative costs to COLLECT contributions and PAY the benefits. Wouldn’t it be useful to know what the costs are today? Knowing the numbers and where the money is invested may shed a different light on how Albertans would make a more informed decision about an Alberta Pension Plan.
As Mr. Sheen quotes an “esteemed and trusted fellow by the name of Mahmood Nanji at Western University, made the following statement “extracting Alberta from the CPP is complex, disruptive, time consuming and administratively burdensome.”
He knows Alberta is the biggest contributor to the CPP and the east needs the money!
I think of the proverbial western cow being milked by the Laurentian Elites! So my question is, do we allow the Laurentian Elites to continue milking and smiling, or let the COW DRY UP! I say it is time to put her out to pasture!