Today, research released by the Canadian Centre for Economic Analysis (CANCEA) confirms that public sector pensions contribute significantly to the provincial economy, providing value to all Albertans and benefitting the local communities in which they live.
The economic research was commissioned by PSPP, the Local Authorities Pension Plan (LAPP), the Alberta Teachers’ Retirement Fund (ATRF) and the Special Forces Pension Plan (SFPP), to see exactly what impact these plans, their investments, and their retirees have on the Alberta economy each year. How many jobs are created? How much money do retirees contribute back into the economy? How much do they pay in taxes? What percentage of the annual provincial GDP results from these plans?
In addition, PSPP, LAPP and SFPP were interested in exploring the social value that returns to Alberta as a result of members and retirees benefitting from the many features provided by a Defined Benefit (DB) pension and how that compares with other arrangements. That resulted in a second research paper from CANCEA, also released today, on the social value of the plans.
Economic Contribution of Public Pension Plans in Alberta – July 2022
Social Value Benefits of Public Pension Plans in Alberta – July 2022