Thread by @yomeeks

The Pension War Room™️ brings you the advice that was given to Travis on the CPP! Since all this RCMP stuff is hitting the fan, I gotta pile on. Nobody wants an Alberta Pension Plan to replace CPP. #ABLeg

Especially since it would cost more. Lots more.

Travis was given advice on withdrawing from CPP on Sept 18, 2019. It read in part:

"The ability to pool risks associated with longevity, mortality, and investment, which are an advantageous feature associated with funding defined benefit pension plans,..."

"...would be considerably smaller under an Alberta Pension Plan."

In other words, withdrawing from CPP would be a risky financial proposition. #ABLeg #dontpullout

"Consequently, the diminished risk pool of an Alberta Pension Plan is more likely to create contribution volatility relative to the CPP."

Read that as we will need to jack up contribution rates. #ABLeg

"Additional and significant actuarial analysis would be required to determine the contribution rates that would be required to fund benefits under an Alberta Pension Plan."

We would have to jack rates up so much that, well, we don't even know how much. #ABLeg

This whole thing started with some stupid Fraser Institute report. Remember them as the free market pushers who actively solicited payments from the tobacco industry and then argued smoking was not bad for you and second hand smoke was actually helpful. #ABLeg

@jkenney does seem to get all his talking points from Fraser. Someone will have to put together the definitive thread of the history of the Fraser Institute climate change denial. #ABLeg

In the same report to Travis, a chart is provided which shows:
"On, average Alberta has the highest weekly earning of all the provinces."
Which is kinda funny because MacKinnon argues we should have had the lowest paid public servants. #ABLeg

And, finally with one more quote from Travis:
"The current Chair of the Board of Directors of the BCIMC (Mr. Peter Milburn) reviewed AIMCo’s business case and determined that the processes used and conclusions reached in the business case were reasonable." #ABLeg #milburned

I am still waiting for Milburn's written opinion.

In other news, ATRF annual investment return will be out soon (they have Aug 31 year end). I will be excited to see what a non-VOLTS portfolio returned through COVID. #ABLeg