Of the 1,456 people who voted, 83.9 per cent said they'd encourage their kids to leave the province — and many added comments detailing how they'd already done that. That will also mean restoring funding to Alberta's post-secondary institutions, doing more to reduce the cost of childcare, and ensuring that the province's cultural institutions are being supported. Alberta's finance minister met with representatives from Alberta's public sector unions Monday morning over concerns about public pension sustainability in the province. We have enabled email notifications—you will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. Audience Relations, CBC P.O. In fact, Brown notes they had a blank slate to explore various options. Alberta pension manager reportedly lost $4 billion on investment strategy sidelined by COVID-19, oil prices. Contact Us Toggle navigation. Article content. . ... ATA president, in a news release. There are the teachers, who have been put squarely in the line of fire when it comes to COVID-19 without much in the way of support or shielding. Alberta’s government-owned investment manager reportedly lost $4 billion in an investment strategy sidelined by the COVID-19 crisis and weak oil prices. Downside protection strategy saves LAPP $1.9 billion, Canadian DB pension plans post 3.2% return in Q3: report, Scotiabank awarded for adapting benefits in face of coronavirus, FSRA speeding up consent process for DB pension asset transfers, See this month's online appointment notices, Canadian Institutional Investment Network. Max Fawcett is the former editor of Alberta Oil and Vancouver magazines. But an even bigger crisis is brewing for the province when it comes to its stores of human capital. Want to discuss? But as the Calgary Herald's Chris Varcoe noted in a recent story, "the government shouldn't think its work is done; that'd be like congratulating the arsonist after they've put out the fire.". Historically, the president of the Alberta Treasury Board and the minister of finance was the plan’s legal trustee and administrator, but in 2019, the LAPP became independent of government, with its own sponsor board and corporation, which now acts as the plan’s trustee and administrator. According to a report by the Globe and Mail, citing anonymous sources familiar with the situation at the Alberta Investment Management Corp., or AIMCo, the fund manager lost billions during the recent global economic collapse by betting on contracts that pay off only if stocks remain stable. By submitting a comment, you accept that CBC has the right to reproduce and publish that comment in whole or in part, in any manner CBC chooses. “Seeking input from outside experts is a common practice in government analysis of major policy proposals,” Jerrica Goodwin said. Last year, Premier Jason Kenney said there was a “compelling case” for looking at whether Alberta should withdraw from the CPP. So a number of them are pulling up stakes, and I think they're likely to be the people who have the most options — the ones that are attracted to other jurisdictions that are more amenable to change and bringing in new ideas," de Bever said. All provinces in Canada are currently part of the CPP except for Quebec, which manages its own pension plan. Find the latest news on LAPP and helpful articles about managing your LAPP pension.
