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CKA Uber
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PostPosted: Tue Nov 26, 2019 10:23 am
 


Martin15 wrote:
bootlegga wrote:
in Alberta and remember how tough it was in the 80s here with the NEP and 22% interest rates and all the rest.



You think the 22% was only in Alberta ? Well, I got news for you...



That's what I vaguely remember, but I was in elementary back then...however, I do remember both my parents working 16 hour days, two or three mortgages on our home, cutting way back on groceries, no vacations for the entire decade, and all that though.

The early 80s were pretty brutal in Alberta for most people, especially after the boom in the 70s.


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PostPosted: Wed Nov 27, 2019 8:50 am
 


Quote:
An Alberta Pension Plan has merit — but not as a source of fresh capital for the energy sector

What's really behind the province's interest in the pension funds of Albertans?

Desperate times call for desperate measures, and that might be what Jason Kenney's government has in mind when it comes to supporting the energy sector. Yes, it's already invested in a $30-million war room and a public inquiry that will investigate its critics. But the biggest investment of all may be yet to come: your pension dollars.

That's one of the concerns that's been raised about Bill 22, the omnibus legislation that was rushed into law while the premier was down in Texas drumming up investment for the oilpatch.

It's been most vocally criticized for its impact on the investigation into the 2017 UCP leadership race, one that has already resulted in more than $200,000 in fines.

But the outrage over the decision to shut down Alberta election commissioner Lorne Gibson's investigation and terminate his contract may be providing cover for an even more troubling part of that bill — one that will force Alberta's teachers to give over control of their pension funds to the Alberta Investment Management Corporation (AIMCo).

It's not just the retirement savings of Alberta's teachers that the government has its eyes on, either.

As part of the Fair Deal Panel that Jason Kenney announced on Nov. 9 to "advance our vital economic interests," the repatriation of nearly $40 billion in Canada Pension Plan assets will be explored. Those assets would also be handed over to AIMCo, and they could be an irresistible target for an oil and gas industry that is struggling to attract investment — and a government that clearly wants to help it do just that.

AIMCo, which was created in 2008, does fine work on behalf of the 31 pension, endowment, and government funds whose assets — all $108.2 billion of them — it manages.

Yes, it has underperformed both the Alberta Teachers Retirement Fund Board and the Canada Pension Plan Investment Board (the latter by 3.1 per cent, per year, over the past five years), but it has been a capable steward of the capital under its control.

And the idea of an Alberta Pension Plan isn't a fatally flawed one.



https://www.cbc.ca/news/canada/calgary/ ... -1.5374110


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CKA Uber
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PostPosted: Wed Nov 27, 2019 9:07 am
 


bootlegga wrote:

The early 80s were pretty brutal in Alberta for most people, especially after the boom in the 70s.


Maybe they deserved it for being too arrogant and cocky. And, no, this is not me being a dick to you either. This is based entirely on what you and Beave and others have said in this thread (and others about the same issues) about who does and doesn't deserve it. Take it for what you will.


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