.
Ten years ago, BBCF presented a brief to the Canada
Pension Plan about its investments. Since then, it appears
little has changed at the CPP except it is bigger and more
egregious. See this brief at:
https://bbcf.ca/2018/01/30/submission-canadian-pension- plan-investment-board/
I recommend as an update , this excellent Webinar of June,
2022:
https://bdscoalition.ca/…/webinar-info-what-is-the…/
It
reveals so much of how our mandatory CPP payments are
invested by a federally legislated body in exploitive
capitalism. .
Just in case you are worried that the CPPP Investment Board
is acting for our interests at all times, be reassured that while
retired workers do get regular payments of some hundreds $
monthly, the CEO of CPP IB gets $5 million /year to maximize
profits from investments on our behalf. The CPP has only
one mandate and that is to make as much money as it can. In
other words- no ethical considerations and no need to
consider the consequences of our CPP contributions.
CPP invests in 9 of the top 25 military corporations in the
world, including those that make nuclear weapons. Our
contributions are also used to privatize state utilities in other
countries with devastating results for workers and
customers. We help Israel build a rail system linking illegal
settlements in occupied Palestine using even more
Palestinian land. .. and more.
To learn about this little-known use of our funds, listen to
this “What is the CPP IB Really up to? “
Join a growing movement for CPP transformation to a fund
that respects human rights, the environment, peace and
social justice in Canada and around the world.
Thanks to the Canadian Foreign Policy Institute, the
Canadian BDS Coalition, Mining Watch Canada, World
beyond War and others for this important presentation.
