Thread by @yomeeks

This is your daily pension announcement: How LAPP got screwed over, part deux.

As you well know, the GOA changes to LAPP's governance and restrictions on its business practices are concerns. So on this joyous Christmas Eve I will just leave you with a couple of LAPP quotes.

First a quote from the LAPP CEO: "By making LAPP Corporation subject to restrictions on how it carries out its business, and by taking away LAPP Corporation’s ability to make changes to its two key service providers should issues arise in the future..." #handsoffmypension

"...we have many questions for how our fundamental duty to you, our members, will be impacted by Bill 22."

Yeah, that's right the whole concept of joint sponsorship with the LAPP Corp being the trustee...is up in the air.

As a taxpayer this has doubled my risk. #MerryChristmas

Also, from the LAPP Q and A:

Q: Are AIMCo and APS both Crown corporations of the government?
A: Yes

Q: Are these organizations obligated to act in the best interest of LAPP members? #handsoffmypension

A: As Crown corporations, they are controlled by the provincial government. LAPP is seeking clarity on how member interests will be protected.

I hate to put it in these terms...(Kevin has a different opinion)...AIMCo has no obligation to act in the best interests of plan members