Thread by @yomeeks

The Pension War Room™️ passes on this wisdom from the current AIMCO Board Chair. It seems to me he is throwing shade on Travis and @jkenney. Read it and tell me if I am wrong..... #AbLeg #handsoffmypension

bnnbloomberg.ca/mark-wiseman-t…

He starts by recognizing that Canadian pensions are "well managed and safe" especially when compared to the rest of the developing world.

Then the bomb:

"it is vitally important that these plans continue to operate with the independence and strong corporate governance" #ALeg

Independence? That has been established as critical to successful pension funds. I wonder what he thinks about Travis meddling in investment managers for ATRF.....

Strong governance? I wonder what advice he is giving Travis about AIMCO..

Mark tells us:
#AbLeg #handsoffmypension

"The Ontario Teachers’ Pension Plan (OTPP) is what a pension plan with both independence and rigorous corporate governance structures looks like."

Yeah. And Mark well knows the ATRF is modeled directly after OTPP. #AbLeg #handsoffmypension

I agree:
"Canadian governments have, to date, understood that the money in these plans is not theirs to invest or spend, rather it belongs to Canadian beneficiaries and should be managed in a way that safely maximizes the risk adjusted returns for those beneficiaries." #AbLeg

Pension funds can only flourish if they are politically independent. Funny that Travis has turned Alberta pensions into a political issue.

BTW, any day Travis will appoint another member to the AIMCO Board which no longer operates as a pesthouse for unemployed oil execs. #AbLeg

Also implied in this quote is that mini-MAGA governments like AB are starting to are ignoring this going forward.