23:20:35 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Telus Corp (2)
Symbol T
Shares Issued 1,454,438,203
Close 2023-09-28 C$ 22.13
Market Cap C$ 32,186,717,432
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Post finds a twist in Telus's Alberta pension calculus

2023-09-29 09:28 ET - In the News

The Financial Post reports in its Friday edition that as the bickering begins over how much of the of the Canada Pension Plan fund Alberta would be entitled to if it pulls out of the national pension scheme, there is a fast-growing pool of money managed by CPP Investments on which the province would have a much smaller claim. The Posts' Barbara Shecter writes that a separate investment pool run alongside the CPP fund's core assets since 2019 is part of an "enhanced Canada Pension Plan" created when the provinces agreed to overhaul the scheme. By the beginning of 2027, this additional CPP pool is projected to grow to around $92.5-billion from $11-billion in 2021. Telus's LifeWorks came up with the stunning claim that Alberta could walk away from involvement in the CPP with a $334-billion asset transfer. However, when it comes to the additional post-2019 CPP fund, Alberta would be entitled to only 17 per cent, or $16-billion, of that $92.5-billion in 2027. That is because assumptions that Albertans have historically paid more than their fair share into the CPP because of the province's younger population, high employment and better-paying jobs would not have the same impact on returns generated over a short time span.

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