Canadian Pension Plans Investments

Canadian Pension Plans Investments

Postby Oscar » Tue Dec 04, 2012 9:43 am

Canadian Pension Plans Investments

December 03, 2012

To the Editor,

The following is the most recent information available of how and where the Canadian Pension Plan Investment Board, [CCPIB] invests the funds that Canadians have designated for their retirement.

Officials of the CPPIB are appointed by the federal Minister of Finance in consultation with the provinces. Recently, a great number of those investments have been moved to companies or corporations that are also involved in the production, sale and purchase of every imaginable array of the weapons of war.

Of the 29 corporations that now hold Canadian pension funds, approximately 12 are American. The others are: Israel, Japan, Holland, Great Britain, Germany, India, Switzerland and Sweden.

Israel receives billions oF dollars of military aid from the USA. This arrangement with Israel does insure that the USA maintains a dominant military force in the Middle East and the world. It also allows Israeli military forces to act with impunity in their illegal expansion of Israeli settlements in Palestinian regions and the ongoing oppression of the Palestinian people.

Each one of these 29 corporations holds different amounts of Canadian pension funds.

The funds are listed in two categories: 2011 "Direct" shares are valued at 667 million dollars; 2012 "Direct and Indirect" shares are valued at 1 trillion, 319 million dollars.

At the last meeting of the CPPIB in Victoria, about half of the shareholders present questioned the ethics of having Canadian pension funds contribute to the manufacture of the weapons of war.

The CEO of the CPPIB, David Denison, stated that the mandate of the Board was "to achieve a maximum rate of return without risk of loss".

The chairman of the Board, Robert Ashley, added that the Board is totally at ease and "quite comfortable with investing with a singular focus on investment return."

Whatever has happened to our country where Canadians were considered to be a nation of peacekeepers?

Our pension funds will now expedite the manufacture of the tools of war to enable the biggest war profiteers and polluters to kill and maim men, women and children, and destroy their homes and public property.

Since when have Canadians placed the almighty dollar over ethics, morality and the Christian version of "Thou shall not kill"?

Leo Kurtenbach
Saskatoon, SK
Telephone: 306.652.5129
Oscar
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