It’s taken a hit, a big hit, a big enough hit the smart money bets it is all but done.

We’re talking about the idea of an Alberta pension plan.

Late last week, while Ottawa stumbled along with its political fireworks, there was a report from Canada’s chief actuary.

This chief actuary is in line with four independent number crunchers who now agree with the pension arithmetic of Calgary-based economist Trevor Tombe.

The promise of a bonanza of bucks for Alberta if the province gets out of the Canada Pension Plan and starts its own pension is a false promise, way wide of the mark, off course, in error.

Not the right math. Doesn’t add up.

The Alberta government and Premier Danielle Smith were fired right up last year when a study the provincial government commissioned said Alberta should get $334 billion if it pulled out of the CPP.

$334 billion. What a number! Massive! What benefits Albertans would score! What savings on paycheques!

And pulling out of the CPP would kick Prime Minister Justin Trudeau in the butt. Bonus!

When the $334 billion number came out, many folks, including those who know their way around a calculator, said the number was impossible.

If it’s too good to be true it probably isn’t true.

© Calgary Herald