Alberta Premier Danielle Smith will release an independent report on a potential Alberta pension plan on Thursday. By the very credible accounts that I have been given, [it is] a torqued, misleading, fantasy case for leaving the [Canada Pension Plan] and gambling on an Alberta pension plan," Phillips said. "Create an Alberta Pension Plan offering the same benefits at lower cost while giving Alberta control over the investment fund," the document pitches. Perhaps the most important one, in Tombe's view, is the amount of assets the Canada Pension Plan provides to a potential Alberta pension plan. "Now, whether or not an Alberta pension plan separate from the CPP would cause the CPP rate to increase depends.