Pension Plan Investment Board
At a time when countries around the world are phasing out coal operations, the Investment Fund is holding billions of dollars in coal operations. Canada is far behind in meeting its carbon reduction obligations, and burning coal is the single greatest threat to our climate.
This week, the legislation that originally created the Canada Pension Plan (CPP) will turn 50 years old. The stated purpose of the Canada Pension Plan was to ensure all working Canadians have an opportunity to retire in dignity. It builds on basic Old Age Security to achieve greater social justice linked to progress in the economy. But Canada has big challenges to face in the immediate future if we're to honour Lester Pearson's ambition of a fair, efficient, adequate system of retirement income for all Canadians.
Pooled Retirement Pension Plans are a good idea; one clearly worthy of pursuing. It is now time for the federal and provincial governments to pass legislation to allow for their existence.