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Originally Posted by Slava
To be fair, I don't know if it says pension or CPP. But to try to split hairs and say that technically they're taking the CPP to move it to the APP isn't really the same as "they're going to take your CPP" when that's not really what's happening.
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I get what you're saying, but if I have a Mclaren, and you take it from me and replace with a Camaro, I still have a car, but you've taken something away from me right? Isn't that kind of like what this is? Or am I completely misinterpreting their plan.
Obviously I don't think the CPP is as good as having a Mclaren.
Quote:
Originally Posted by Slava
If you look at the past couple years for Aimco, they've beaten their benchmark. That's not blowing up, and it's not a terrible record. Over the past decade they've outperformed their benchmark by about 0.7%...again not indicative of poor management. And no, it doesn't matter whether that is more or less than another pension fund because the benchmark return for these mandates is what matters. You can't just cherry pick data and say "we could've done better", because the mandates are not necessarily the same.
I have other reasons that I don't like the APP scheme (notably the deranged push for sovereignty), but again...people are not having their pension stolen.
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Aimco has been mediocre. They lost billions in one afternoon just a couple years ago, if that's not mismanagement I don't know what is.
They don't perform as well as the CPP, at least that's my understanding. It's not about what we could have had, it's about what we have, and not handing it over to this group who will do a worse job.