UCP and Smith working to make grand theft of our pensions legal (to give to American AI)? Trying to criminalize lawsuits seeking to recover AIMCo’s massive losses and gifts to failing oil and gas companies like Pieridae, frac’er Calfrac and criminal Bolsonaro, etc.
ALBERTA INVESTMENT MANAGEMENT CORPORATION ACT (section 4); ALBERTA INVESTMENT MANAGEMENT CORPORATION REGULATION (section 2) – Effective November 20, 2027, reappoints The Right Honourable Stephen J. Harper as a member and redesignates him as chair of the board of directors of the Alberta Investment Management Corporation for a term to expire on November 19, 2028; effective November 20, 2027, reappoints Jason Montemurro as a member of the board of directors of the Alberta Investment Management Corporation for a term to expire on March 12, 2028; effective November 20, 2027, reappoints James Keohane as a member of the board of directors of the Alberta Investment Management Corporation for a term to expire on May 26, 2028; effective November 20, 2027, reappoints Navjeet Singh Dhillon as a member of the board of directors of the Alberta Investment Management Corporation for a term to expire on February 28, 2029; effective June 4, 2028, reappoints Sandra Lau as a member of the board of directors of the Alberta Investment Management Corporation for a term to expire on June 3, 2029; appoints Ron Helmhold and Hugh O’Reilly as members of the board of directors of the Alberta Investment Management Corporation, each for a term to expire on September 2, 2029.
312/2026
CANADA PENSION PLAN (CANADA) (section 114) – Signifies the consent of the Province of Alberta to the enactment of relevant sections of the Spring Economic Update 2026 Implementation Act (S.C. 2026, c. 22) that alter the Canada Pension Plan.
As if things were not bizarre enough in this province, today the GoA made an Order in Council purporting to give effect to a series of appointments “effective November 20, 2027”. That’s right, 2027. I’ve never seen this before. The question is why?Preparing for Trump’s invasion when Smith and her separatists lose their referendum?
@moe-rosie.bsky.social:
Is that our CPP in there ?? Moving ahead with an Alberta one ??Carney’s a traitor, eagerly serving the worst province in Canada, Alberta and Nazi USA’s rich. I bet he happily gives Smith more than Alberta’s share of the CPP. They are both despicable shits. Am I reading that right?
Alberta Finance Minister Nate Horner introduced Bill 12 on Tuesday. (Dave Bajer/CBC)
The Alberta government is proposing new legislation to prevent public sector pensions from suing the Alberta Investment Management Corp., or AIMCo, for decisions made before November 2024.
Bill 12, the Financial Statutes Amendment Act (No. 2), introduced in the Alberta legislature Tuesday, aims to solve a problem for the government that has existed since 2020 when AIMCo lost $2.1 billion in trading.Lost or intentionally stole from pensions to give to bankrupt frac companies and other known money losing shits?
AIMCo manages pensions for Alberta public sector workers. The Local Authorities Pension Plan (LAPP), the Public Service Pension Plan (PSPP) and the Special Forces Pension Plan (SFPP) have been trying to recover about $1.3 billion in losses since then via arbitration.
A Court of King’s Bench ruling from 2023 found that AIMCo and the Alberta government would both be held liable for the losses if the pension plans were successful in their arbitration case.
On Tuesday, Finance Minister Nate Horner said the legislation is required to protect Alberta taxpayers. Pfffft! UCP really want to protect themselves and Herr Hideous Harper. UCP and Harper have never given a shit about taxpayers.
“There’s no extra fund at AIMCo to cover something like this,” he said during a news conference at the Alberta legislature. Well then, AIMCo must stop giving money to bankrupt frac’ers/oil and gas companies, and corrupt politicians in other countries
“It would fall on the backs of Alberta taxpayers, and we’re talking about $1.3 billion minimum. We’ve had lots of conversations about the borrowing the province is already undertaking, and it’s something we’re not willing to entertain.”
The government said the pension plans are well-funded and the AIMCo losses didn’t reduce benefits for members.Liar! UCP are not trustworthy and never tell the truth in my experience especially when it comes to money that belongs to others that they want in their own pockets or to steal to give to their corrupt pals.
Court Ellingson, the NDP MLA for Calgary-Foothills and Opposition critic for finance, said $1.3 billion is a large sum that impacts many people.
“The money still needs to be to be there to pay out those defined benefits,” Ellingson said.
“If the money is not there, who’s on the hook … who needs to start making up for this $1.3 billion in losses to ensure that those defined benefits continue to be paid?Frac’er and the oil and gas industry
The 2020 losses were attributed to an investment strategy called a volatility trading strategy, or VOLTS.
Last year, Horner fired four AIMCo executives — including the CEO — and the entire board of directors, the second major management change in five years.
Horner appointed former Alberta deputy minister Ray Gilmour to be AIMCo’s interim chief executive officer. Former prime minister Stephen Harper was named chair of the board.
Bill 12 has provisions to prevent lawsuits against companies when they make “good-faith climate-related financial disclosures.”WTF?
The bill also aims to crack down on financial social media influencers who make false claims about investments that can impact their market performance.
Other items within the bill include enabling legislation for the new Alberta Disability Assistance Program, or ADAP, which aims to allow disabled Albertans to work while keeping some benefits, and a new levy on computer equipment used by artificial intelligence data centres.
The goal is to line the pockets of attendees by auctioning off Canadian assets to the highest bidder via "The look book"."That list is being whittled down to a final look book to be sent to investors ahead of the invite-only summit." Everything is for sale in Carney's Canada. Everything.
From Build Canada. They are going to steal our pensions right out from underneath us when none of them need our fucking money because they have millions already. The new rich are rich because they use other people’s money, never their own.And this same group wants pensioners not to get a vote because they’re not contributing to the economy. This is fucking disgusting.
tinkiegurl.bsky.social:
If you’re unfortunate enough to live in AB & they somehow manage to separate our CPP will be invested with AIMco & the esteemed (excuse me while I hack up a hair ball) Stephen Harper is CEO of said Co. Fun times
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Preparing for Trump’s invasion when Smith and her separatists lose their referendum?
