Federal Finance Minister Chrystia Freeland says if Alberta were to quit the Canada Pension Plan it would require a 鈥渃omplex and multi-year process鈥� of negotiating international social security agreements to deal with contributors who work abroad.

Freeland said Friday (Nov. 3) that would be among the steps the Alberta and federal governments would have to take if the province were to withdraw from the federal retirement plan and set up its own.

Her remarks followed a virtual meeting with provincial finance ministers, in which she says they discussed the consequences of Alberta going it alone.

鈥淥f course Alberta has the right to withdraw,鈥� Freeland told reporters.

鈥淏ut Alberta鈥檚 choice about the (Canada Pension Plan) also implicates every single Canadian.鈥�

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Freeland, who called herself a 鈥減roud daughter of Alberta,鈥� said she is hearing from Albertans concerned about the idea.

She added she is asking the chief actuary to 鈥減rovide an estimate of the asset transfer,鈥� based on a 鈥渞easonable interpretation of the provisions in the (Canada Pension Plan) legislation.鈥�

Following the meeting, Alberta鈥檚 Finance Minister Nate Horner said he was encouraged to hear Ottawa would be providing an actuarial analysis.

鈥淲e鈥檝e been asking for this for several weeks,鈥� he said in a statement.

鈥淭o be clear, Alberta is committed to making sure that any potential creation of an Alberta Pension Plan will not leave our fellow Canadians without a stable pension and its associated benefits.鈥�

On the issue of negotiating international social security agreements, Freeland told reporters that if Alberta launched its own program it would need to 鈥渆nsure similar treatment of contributors who spend part of their careers abroad.鈥�

Quebec has negotiated its own such agreements with 39 countries, while Canada has done the same with 60.

鈥淭his would be a complex and multi-year process and it would be taking place at a time of real uncertainty,鈥� Freeland said, both in terms of 鈥済eopolitical uncertainty鈥� and 鈥済lobal economic uncertainty.鈥�

The Alberta government argues its workers have contributed an oversized share to the national fund and would be in line for big savings and payouts if it were to leave the CPP.

Alberta Premier Danielle Smith had planned to hold a possible referendum on leaving the CPP in 2025, but now says she won鈥檛 go ahead with such a vote until governments or the courts deliver a hard number on how much Alberta would get if it leaves.

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New Brunswick Premier Blaine Higgs said he understands why Smith is proposing to pull her province out of the Canada Pension Plan.

鈥淚 don鈥檛 feel Alberta is leaving Canada,鈥� Higgs said outside the legislature in Fredericton. 鈥淚 think that Canada, in many ways, has left Alberta.鈥�

He said that as the premier of a Maritime province that receives federal equalization payments, it鈥檚 worth noting that Alberta has been a major contributor to those funds. And he questioned why federal policies are 鈥渟hutting down (Alberta鈥檚) resource revenues at a time when they鈥檙e trying to reconfigure their economy.鈥�

Higgs did not elaborate, but said Alberta鈥檚 bid to leave the pension plan represents a 鈥渟hot across the bow鈥� and 鈥渁 reality check.鈥�

However, the New Brunswick premier said he did not agree with Smith鈥檚 approach.

鈥淚f Alberta came out of the CPP funding formula, it would be a major problem 鈥� for Canadians across the country. I don鈥檛 think that鈥檚 Alberta鈥檚 intention.鈥�

Last month, federal Conservative Leader Pierre Poilievre encouraged Albertans to stay in the federal pension plan.

But he blamed Prime Minister Justin Trudeau for creating the conditions, through measures such as carbon pricing, that would push the province to consider other options.

Nova Scotia鈥檚 Finance Minister Allan MacMaster, who chairs the council of provincial and territorial finance ministers, told reporters that every province expressed how much they care about the Canada Pension Plan during the meeting.

He said he believes the pension plan is better with Alberta in it.

鈥淲e want them to stay, and there was real consensus on that today,鈥� he said.

鈥淚 don鈥檛 want to cause concern for people. I want people to know that there鈥檚 a strong consensus around the country about the importance of the Canada Pension Plan and we all want to work together to keep it the way it is.鈥�

Ontario Finance Minister Peter Bethlenfalvy called unity a strength of the CPP.

鈥淚n a period of economic uncertainty, no Ontarian 鈥� or Canadian 鈥� should have to worry about the security of their retirement savings. Unity is a strength of the CPP, and it is a strength of our country. But unity requires fairness.鈥�

British Columbia Premier David Eby said during an unrelated news conference in Vancouver that the main concern for B.C. residents and Canadians as a whole is that the pension plan will be there for them.

鈥淚t鈥檚 secure, it鈥檚 funded, it allows you to retire anywhere in Canada, (as) many Albertans know who are living in British Columbia right now, and it works.鈥�

鈥� With files from Allison Jones in Toronto, Dirk Meissner in Victoria and Michael MacDonald and Keith Doucette in Halifax.

Stephanie Taylor and Nojoud Al Mallees, The Canadian Press