Description: Half of the money in the Canada Pension Plan (CPP); that’s what Alberta wants for what it says is its share of the CPP. Not so fast, say experts. Before Alberta can withdraw it’s share out of the plan – if it even can – other Canadian provinces may have something to say about who owns what. And the Supreme Court of Canada would likely have to weigh in before all this controversy is resolved.
Date: September 23, 2023
1) As a student, were you aware of this pension dispute?
2) If you were a politician from a province other than Alberta, how would you respond to this news?
3) Page 10-7 of Wiley’s Financial Accounting: Tools for Business Decision-Making includes sample journal entries for how a company accounts for both the employee and employer contributions to the Canada Pension Plan. What are the differences in the two journal entries?