Thread by @yomeeks

This is your daily pension announcement: The Pension War Room™️ takes a walk on the septic field of the Alberta Pension Plan.

Let me analyze and educate about some of the issues. #ABLeg #AIMCOfail

edmonton.ctvnews.ca/kenney-ndp-tra…

The current UCP MLA talking points include an APP that would bring $40 billion of assets to good ol 'berta for AIMCO to manage and at lower cost to boot.

That is, of course, after a nice 'n democratic multi-million dollar referendum. #ABLeg

Please let me analyze the current talking points.

First, most of the assets (>50%) would be managed out of AIMCO's Toronto office, so they would not be "brought back" to Alberta. #ABLeg

Second, I like referendums. But, they only work on clear yes/no questions. And there are 50 shades of grey here.

Third, no one has been honest about contribution rate. It likely won't be less. No savings; will only go up in the future as demographics change. #ABLeg

So why would you vote in favor of an APP on a referendum?

1. To spite PMJT. Yup that is it. If you want to spite the rest of the country and federal leadership fill your boots. #ABLeg

2. You believe that AIMCO can take in another $40 billion in assets and invest it wisely. (I would refer you to recent history to help inform your judgement here.) Enough said.

3. You had TBF produce a cost estimate from an actuary that shows a substantial savings. #ABLeg

TBF is currently charged with analyzing the possibility of an APP. I only hope they do a better job than the AIMCO "Business Case" for giving it more assets. I don't recall poorer work being done.

Look for the opinion of an actual actuary not some TBF wannabe. #ABLeg #milburned

Some people have done net present value calculations, but that ignores the underwriting risk of a smaller group of pensioners.

4. You believe that @jkenney or cronies will not mess with the assets, the benefits, or the administration.

With pension the devils is always in the details.

So a politician that fumbles one or two details about withdrawing from CPP could have serious consequences down the road. #AbLeg