Canadian Centre for Economic Analysis

2021 Economic Contribution of Public Pension Plans in Alberta

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With more than 400,000 active, deferred vested, and retired members living in Alberta,
LAPP, ATRF, PSPP and SFPP make up a significant proportion of the defined
benefit pension plan membership in Alberta. Members of the Plans include union and
non-union employees of municipalities, health services, schools, transit systems, electrical
utilities, emergency services, the provincial government, children’s aid societies and other
public service organizations across Alberta. The contributions of members and employers
are invested around the world by the Plans to provide each member with a stable and
secure source of retirement income. The impacts of the Plans’ investments can be found
across Alberta, and Albertans benefit from the economic capacity and activity generated by
local investments and pension recipients.

The Plans contributed over $4.8 billion to provincial GDP in 2021 through their activities in Alberta, equivalent to 1.5% of Alberta’s economy. This supported over 43,700 jobs and $2.2 billion in wages for Albertans, and over $1 billion in combined federal and provincial government revenue through corporate, income, and consumption taxes. The impact of the Plans’ activities on Alberta’s population is widespread and supports many local jobs. This provides a benefit to the people with whom they share a household since the employment supported by the Plans contributes to each household’s total income. In total, there were almost 504,000 Albertans who benefitted from the Plans’ activities in 2021, counting those living in households with a person whose wage is supported by the Plans and those who are Plan members.