December 14th, 2019

Pension puzzler


By Letter to the Editor on November 30, 2019.

I have a little math question for everyone who has or wants a savings account. Would you invest your money at nine per cent or a little over two per cent? I know the answer is pretty obvious but think about it for a while. Most of you would jump at the chance to earn nine per cent on your savings and not even consider moving your money into an account that has only paid a bit over two per cent but that is exactly what your premier is doing.

He is talking about taking the funds from the ATRF pension fund and moving it into AimCo. This is the man that most Albertans voted for. The man that is cutting education funding and health care – two things he campaigned against. The man who is firing the people investigating his campaign.

Most UCP voters in this province are still living with the memories of Ralph Klein and think that the UCP will bring back the “good old days.” If you agree with what Jason Kenney is doing, please contact me and I will be happy to handle your savings for you. I promise you that I can do worse than what you are getting now.

Reed Spencer

Lethbridge

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6 Responses to “Pension puzzler”

  1. Fedup Conservative says:

    Those of us from the world of finance certainly agree with you. Do you think we should start suing these people who put us into this mess, as some are suggesting we start doing? This orphan well disaster is only going to get worse. They are suggesting we set up a GO-FUND-ME-PAGE to raise money to do so. Oilmen tell that oil executives are furious with Kenney for eliminating the Carbon tax, they know we have to do something about our pollution, we are told and will likely help. While we desperately tried to vote out Ralph Klein to stop him from destroying us, his father Phil and daughter Angie were trying to help us these ignorant Albertans wouldn’t let us, now we have another Liberal turned Reformer in Jason Kenney doing it and he’s just a clone of Klein, people are calling him.

  2. meisplayfull2 says:

    My analytical answer to this puzzle is as follows: The teachers made 8.4% in one year based on a August 31 2018 report while aimco made 2.4% based on a December 31 2018 reporting date. In 2018 the high for the year was in September then the financial markets plummeted. According to each website and the same benchmark both plans performed about 1% better than the benchmark. However I do not understand what Kenny is trying to accomplish by merging the teachers into Aimco. Both funds have very capable investment advisors and in the long term the numbers will probably balance out. So again what is the real agenda behind the merge???

    • grinandbearit says:

      The agenda is two-fold: the law allows Kenney’s UCP govt to grab up to 10% of the pension fund and put it into their own general revenue and the government can direct AIMCo’s investments ensuring that the teachers cannot direct investment away from Kenney’s favourites.

      Simple excessive government overreach like all the recent previous right wing AB governments. The right-wing is always afraid that people will make the wrong choices.

  3. Fedup Conservative says:

    As lawyers used to say to us during the Klein years “What is happening behind closed doors , or under the table. In other words whose palms are being greased. Wouldn’t you like to know”?

  4. Resolute says:

    Retaining control of Albertan’s pensions and other monies within Alberta increases Albertans’ control of their future. As noted above, both investment management teams are trained qualified experts with similar longterm performance. Given the disappointing and unconstitutional but real expressed intent of Mr Trudeau and our federal government to oppose and prevent Alberta’s success, it must be seen as irresponsible to voluntarily give anything so important as our pensions to an entity under federal influence.

    • grinandbearit says:

      Resolute does not seem to be able to follow the story here. The ATRF is not an AB pension it is deferred compensation that belongs to Alberta’s teachers for the work that they have done. It does not belong to Kenney to wrest away from legal joint management to suit his ideology based investment approach and it certainly should not be used to act out on conspiracy theories that the federal government is out to get us.


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