Today it was announced the Government pension funds would be moved away from safety into AIMCo which is anything but arms-length from the Government.
Jim Prentice was busted stealing 7 million dollars from the Government pension funds managed by AIMCo. Not a crime in their minds as they consider the Government staff are overpaid. Then, they lied about it for 6 weeks before capitulating under threat of court to set things right again.
It appears to me Kenny is setting up his new banking system. Union better watch AIMCo like a hawk.
Add to:
This is much worse than I first presented See:https://www.pionline.com/pension-funds/alberta-proposes-aimco-take-management-teachers-fund
Any fund that allows their money to be sucked up to be used for the provincial finances is being suckered.
There are 20 billion dollars in the combined take-overs. It is not uncommon for an agency to take a 5% transfer fee in setting it up!
Add to:
This is much worse than I first presented See:https://www.pionline.com/pension-funds/alberta-proposes-aimco-take-management-teachers-fund
Any fund that allows their money to be sucked up to be used for the provincial finances is being suckered.
There are 20 billion dollars in the combined take-overs. It is not uncommon for an agency to take a 5% transfer fee in setting it up!