Yes. Under the federal Canada Pension Plan Act, Alberta can withdraw from the CPP by giving written notice it intends to set up its own provincial pension plan. That pension plan must meet three conditions:
Support from other provinces isn’t needed for Alberta to withdraw from the CPP. Legislation to create an Alberta Pension Plan must be passed at least one year before the plan commences.
Albertans will decide whether or not to move forward with a provincial pension plan.
An engagement panel will consult Albertans throughout the province to ensure they have the information they need to make an informed decision. Feedback from Albertans, employers, and stakeholders will determine if an APP should go to a referendum.
Alberta’s government also plans to introduce legislation in fall 2023 that, if passed, would require a referendum before Alberta could transition to an APP. It would also guarantee the same or lower contributions, the same or better benefits, and ensure the assets transferred can only be used for the provision of a pension.