Quote:
Originally Posted by Locke
Taking control of our own Pension Funds is a laughably short-sighted plan.
Anyone who thinks this is good idea has no concept of how pensions funds work.
These are long-term plans...Alberta has an advantage 'right now' if we potentially manage our own pensions...but that advantage is short-term and small...the exact opposite for what you need in pension planning.
I would strongly suggest that if anyone has the opportunity to vote against or talk someone out of, an Alberta Pension Plan....take it.
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Exactly. Nevermind economies of scale, doubling up on administration, etc, but we're a young province and generally Albertans have higher than average earnings right now... but that doesn't mean we will forever. (And actually there's
evidence that Alberta's wage advantage is eroding).
Ironically, if we were to create an Alberta Pension Plan, the time to do it was actually 20 years ago when Klein didn't. But that's with the benefit of perfect hindsight.