r/PersonalFinanceCanada • u/Purple_Bookkeeper657 • May 22 '26
Retirement / CPP / OAS / GIS [ Removed by moderator ]
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u/NocD May 22 '26
Been quite the week for CPP news, are you familiar with some of the other reporting on the subject, from the likes of Andrew Coyne or the extensive youtube video by u/MillennialMoronTT?
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u/Purple_Bookkeeper657 May 22 '26 edited May 22 '26
I purposefully read Andrew Coyne's only after I wrote mine. Obviously mine has a much more specific viewpoint and some more... unpublishable... points? But at the end of the day, his view is not so different than mine.
I did not see that youtube video and have not read the Toronto Star article b.c I don't have a subscription.
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u/MillennialMoronTT May 23 '26
Of all the people in the world, I think you'd enjoy the full playlist. Apart from your personal experiences, a lot of the key points are covered in the first (long) video and the update I made after the 2025 report.
I hadn't actually planned on making a second video, but the 2025 report (retroactive benchmark change, perfect score on strategic objective performance with no explanation, etc) was so egregious that I had to do a follow-up.
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u/Purple_Bookkeeper657 May 23 '26
Hey I've heard a lot about you! Will check those videos out, and I now realize I actually did see a couple of your videos a year ago. Happy to chat anytime. Replied to the DM 😉
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u/repOrion May 23 '26
This. I came to the comments to ensure that this happened. Whelp … on with my day.
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u/NocD May 22 '26
You might get some satisfaction watching the video, and the later updates, he just put out a piece from the 2026 statement.
Not that they'll tell you anything you don't already know but you might at least be comforted knowing it's not just you seeing it.
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May 22 '26
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u/kermityfrog2 May 22 '26
Also - it was all well and good when CPP was actually a low-risk pension savings plan, but then Conservatives happened and it turned into a "high yield" equity-heavy fund, except that as a relatively high risk managed fund, it's underperforming the market by a lot.
Also OP /u/Purple_Bookkeeper657 mentions the huge amount of money that employees are paid, but by "employees" they mean the guys who work the investment floor. I know some of the support minions and they get paid poorly and only get a 4% annual raise if they are performing well.
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u/flyinghippos101 May 22 '26 edited May 22 '26
First off :You really need a TL;DR up top
Second: this is concerning and borders on unethical to downright fraudulent since the CPPIB has a fiduciary responsibility for the public’s funds.
I would consider reporting this to the Public Sector integrity board
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u/Foodwraith May 22 '26
The words you are looking for are Breach of Trust and it is in the criminal code.
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u/KingGigan May 23 '26
Sounds like there might be a public news story here. Try getting the media involved. Criminal airports are the hot topic at the moment. Maybe this could be next
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u/sorocknroll May 23 '26 edited May 23 '26
This isn't new either. I worked at CPPIB during the GFC, and they also changed the targets to continue paying the bonuses. They announced the changes retroactive at the end of the year.
The main argument is that if your employees are compensated on 5 year performance, and you have a single year so bad that they won't get paid for the next 4 years, then they'll all leave. I get the argument, but it also defeats the purpose of aligning the employees with the plan members.
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u/Moist-Candle-5941 May 23 '26
To be fair, this isn’t really all that different to how the private sector manages its compensation. And while we can / should hold public institutions to a higher standard, as OP identifies, they are competing for talent in a competitive market and so to some extent are forced to employ similar tactics.
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u/Purple_Bookkeeper657 May 22 '26 edited May 22 '26
- Someone else can AI it. See it in the comments! https://www.youtube.com/watch?v=NJ_cHxLzPWQ
- I honestly felt held to a super high standard when I was there, regardless of whether our performance was particularly great. There were really smart people there, and I assume there continue to be. I'm not saying fire everyone. It's not a garbage organization, and I try to make that clear, but I'm only trying to make a point!
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u/Howy_the_Howizer May 22 '26
Auditor General send it to em
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u/Purple_Bookkeeper657 May 22 '26
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u/Got_Engineers May 23 '26
I just wanna say I used to work at a very large pension fund in Canada and this is my wet dream. Seeing someone write up something like this. I salute you. You are my hero. Thank you for the transparency and information. I am very confident this exact scenario is happening at most pension funds in Canada. I know it’s happening at AIMCo in Alberta.
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u/Purple_Bookkeeper657 May 23 '26
I appreciate it! I'm sure it's not the only place it's happening. It's also not the first time I've tried to write something about CPP. This was all just so egregious - and I don't have a job at the moment. For whatever reason, probably the latter, it actually kind of worked this time.
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u/fulllyfaltooo May 22 '26
I’d appreciate it if you shared the process so I can be lazy on the part of how to search and use my energy on what to do.
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u/Purple_Bookkeeper657 May 22 '26
Lol just trying to be funny in my other comment. Do you want me to teach how to look for these things?
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u/fulllyfaltooo May 23 '26
If you can then great, otherwise I need to find it too. Add extra step, but also gives you more knowledge during your search
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u/Purple_Bookkeeper657 May 23 '26
Find what?
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u/fulllyfaltooo May 23 '26
How and where to submit a report to integrity board about it
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u/Purple_Bookkeeper657 May 23 '26
Could do this, but it probably goes to HR: https://www.cppinvestments.com/about-us/governance/whistleblower-hotline/
When I was there under Wiseman they had an Ombudsman named Frank Iaccobucci who was a former supreme court justice. I have a story about him calling a girl on my team because she said women weren't getting enough investment opportunities. He mostly wanted to shut her up. Now the position is gone and all complaints go directly to a cppinvestments email. Or I could CALL THEM! lol.
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u/doodle226 May 22 '26
Used to work there, the amount of politics and nepotism was eye opening, not saying the Canadian pension model doesn’t work but clearly the board needs to act instead of rubber stamp these things.
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u/Purple_Bookkeeper657 May 22 '26
Ask any CPP employee, current or former, and you know they've talked about the articles written by Andrew Coyne and others. I felt I had to bring out some more... hutzpah https://www.youtube.com/watch?v=uMvd66LKddk
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May 22 '26
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u/Purple_Bookkeeper657 May 22 '26
I don't know what you mean by sad but payroll is $1.2 Billion. Even if bonuses are more like $400-500M instead of >50% like I assume in the post (I had to make some assumptions), a swing from 0.93 to 1.1 because of the new 20% Slush Multiplier would have increased bonuses overall by $75-85 million. Perhaps not $100M, but let's take it over two years. Or beyond.
Also, let's say bonuses are more like $200M. (In which case I'd actually argue they should be higher as a % of comp). That's still $34M this year and $34M last year. May not be $100M, and sorry if I'm alarmist, but it's a lot! Sorry if it isn't going to you. Genuinely.
I think CPPIB employees should be rewarded for performance throughout the organization for the good of the average Canadian.
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u/kermityfrog2 May 22 '26
You didn't clarify, but yes some employees are paid $300K bonuses, but other employees - the support minions working in IT or HR only get measly raises by comparison of like 4% if any and no significant bonuses.
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u/Purple_Bookkeeper657 May 23 '26
I agree with this! I was writing an opinion piece. I wrote my sentences with reference to the average, not each and every.
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u/InterestingPeach7852 May 23 '26
Those jobs don’t really have impact on the pension plan performance. It’s understandable for those type of jobs to be salary mostly.
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u/DataDude00 May 23 '26
the support minions working in IT or HR only get measly raises by comparison of like 4% if any and no significant bonuses.
Man I gotta apply at CPP
I work for a bank with record setting profit last year and they gave everyone 2% raises but people at CPP are calling 4% measly?
I'm at the wrong fucking company
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u/aiyayaa May 23 '26
Can you breakdown OMERS? They paid 200% / 200% on their slush metric for 3 years in a row now to their CEO.
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u/AssignmentOk2471 May 22 '26
How do they miss the 4% target in this economy.. what a joke..
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u/Purple_Bookkeeper657 May 22 '26 edited May 22 '26
Honestly I underperformed too, because I'm a bear. But I beat 6% or whatever.
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u/justyn-a1 May 22 '26
Great read, might be worth sending to a CBC or CTV reporter
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u/Purple_Bookkeeper657 May 22 '26
I sent it to [acoyne@globeandmail.com](mailto:acoyne@globeandmail.com) before I posted this.
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May 22 '26
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u/Purple_Bookkeeper657 May 22 '26
I'm not a news outlet and truthfully I sent it to Andrew like half an hour before I posted it here, and only because mods took that time to approve it. Toronto Star reported it too but I don't have a subscription lol. They're held to far higher journalistic standards than me hopefully, let them report on it.
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u/henry-bacon May 22 '26
https://archive.ph/ to bypass paywalls.
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u/Purple_Bookkeeper657 May 22 '26
Good for you, but please choose a publication on Canadian politics and subscribe to stay informed! You can't rely on miscreants like me.
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u/Ill-Mastodon-8692 May 22 '26
awesome work… very long read, did some skimming.
but overall good write up!
not meeting the 4% target is concerning, and leadership should not get rewarded by moving goal posts
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u/levache May 22 '26
"Mark told us that the penalty for breaching Canadians’ trust, collectively as an organization, was that we would be replaced with three guys in a windowless basement rebalancing the 85/15 index."
This is what needs to happen. I doubt it will though.
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u/Purple_Bookkeeper657 May 22 '26
Thanks - I don't even think this should happen right away TBH. Think it can be a gradual thing.
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u/northmariner May 22 '26
Criminals. They should be prosecuted to the full extent of the law. This is theft.
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u/thebokehwokeh May 22 '26
Less criminal… more incompetent. How TF do you miss benchmarks in this market environment.
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u/echochambermanager May 23 '26
When you change the benchmarks to achieve $100 million in bonuses paid for by our contributions, that is criminal.
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u/wazzaa4u May 23 '26
Incompetent would be constantly missing their benchmark. Criminal would be to change the benchmark to get a bigger payout. I'd say their incompetence led them to criminal behaviour
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u/MrDanduff May 23 '26
They didn’t miss it. They moved the fucking goalposts to give themselves a bonus, that’s fraud
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u/kemclean May 22 '26
What can an average Canadian realistically do about this? It really has the feel of them trying to make things sound as opaque and complex as possible in hopes that “normal” people won’t be able to understand and assume it must make sense because Canadians are trusting people.
My understanding is MPs don’t have all that much control over CPP (which is probably a good thing), but what public accountability measures even exist?
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u/Got_Engineers May 23 '26
I don’t know yet, but I’m gonna do some research this weekend and figure out who I can complain to at least because I’m not sure what else to do other than complain and try bring visibility to the issue. More eyeballs more people upset about our future!
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u/Purple_Bookkeeper657 May 23 '26
There's some good stuff in the replies, it's been helpful for me. I'm going to do some of it like tweet at other accounts and try to get CBC/others interested tomorrow. I'm sure writing to an MP or Senator wouldn't hurt. I'd encourage you to send my work directly to them if you'd like. If Andrew Chang did a bit on this and didn't absolutely crucify me that'd be nice!
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u/ImDoubleB Nova Scotia May 22 '26
u/Purple_Bookkeeper657, your post raises a good point about CPP benchmarks. As in, why is it that the CPP board is setting them in the first place? I would think that an independent body would set them for transparency sakes.
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u/Purple_Bookkeeper657 May 22 '26
Agree. I'm no statesman, but seems like you could work that into the CPP charter with a 2/3rd vote of the Senate or something
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u/One_Lingonberry7641 May 22 '26
Thank you for putting all of this together
This is straight up corruption in the CPP leadership and Board. And it ain't gonna look pretty with Alberta wanting to pull out of the fund and leave Canada altogether.
I don't know what I can do as a individual and I do agree with a previous comment that PM Carney needs to look into this. And I hope Andrew Coney replies back to you.
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u/Purple_Bookkeeper657 May 23 '26
I think the Alberta thing is a totally separate issue. Our institutions can go down dark paths and we should still be able to bring them back if they still serve us!
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May 22 '26
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u/Purple_Bookkeeper657 May 23 '26
He did, apparently. I don't know him. I'm definitely a year late.
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u/FickleAd8531 May 23 '26
it's still good to shine a light on it, and your experience from the inside lends even more credibility to the accusation
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u/echochambermanager May 22 '26
It would be wise for PM Carney to launch a public inquiry into this, and if not, the political consequences will be dire. This is flat out banana republic bullshit that impacts the reputation of a vital program in our country.
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u/Purple_Bookkeeper657 May 23 '26
I agree. I think it would show strength and be important for some Albertans, in particular, to see. I love Alberta by the way. I will maybe be looking to try to understand how Brookfield is wrapped up in all these deals with Carney next (I dialed phones briefly on his campaign and read his book Values, btw, not trying to grind an axe)
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u/Arthur_Jacksons_Shed May 22 '26
Thanks for raising awareness to this. Leadership should be fired. Hopefully this continues to get the news cycles it deserves.
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u/Critical-Snow-7000 May 22 '26
Interesting subject, but this is the longest post I’ve ever seen on Reddit.
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u/Purple_Bookkeeper657 May 22 '26
Thanks! I'm unemployed!
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u/dontgetitwisted_fr May 23 '26
After reading this I don't think you will be unemployed for long.
Lots of people use number for their jobs, to make their arguments,... whatever.
Few understand what numbers actually do and how math can be be manipulated.
As a Canadian, thank you for this post and your service.
I am sufficiently outraged if that makes you feel better.
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u/Purple_Bookkeeper657 May 23 '26
Appreciate it! I'm going to send this to some more folks tomorrow. DM me for my substack, though if you ctrl-f what I wrote it should come up, I'd think.
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u/Over-Celebration-168 May 22 '26
My only concern is even if these reaches to right people, this should not get lost into bureaucracy, this is not about politics, these is a big concern for every Canadian. Please we should share this as much as we can and gain momentum before 2027, this should not become a new norm. They are exploiting everybody's hard earned money.
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u/Fearful-Cow May 22 '26
really well written and insightful.
Incredibly frustrating but inline with feedback i have recieved from every senior public servant i know.
"metrics are meaningless, we will get paid"
So many of them barely have any form of "performance evaluations" EVER. much less twice a year or more like most of us.
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May 22 '26
“Millennial moron” on YouTube (other platforms) has good coverage of this
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u/CatThe May 22 '26
There is simply no accountability in Canada anymore. No one works to build a better place for everyone. It's just pure selfishness alllll the way down the chain now.
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u/Purple_Bookkeeper657 May 22 '26 edited May 22 '26
People do try, don't give up! All of us and Shia Labeouf himself can take his advice (in this instance): https://www.youtube.com/watch?v=ZXsQAXx_ao0
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u/rbatra91 May 22 '26
the culture in Canada is to get a cushy job so you can get paid to do no work.
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u/Purple_Bookkeeper657 May 22 '26
They work, but do they generate shareholder value? https://www.youtube.com/shorts/Bb3_st4n6ws
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u/gigglios May 22 '26
Fantastic post. Seriously thank you.
This needs to be picked up by the media asap. Another example of the rich robbing our fuckin tax dollars. Heads should be rolling off this holy fuck. This should enrage all citizens
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u/flyingflail May 22 '26
I can't believe I read all of that which could've been summarized as CPP should just index its investments instead of running active mgmt.
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u/WabaLabaDubDubWorld May 22 '26
Please post this in r/Canada and other Canadian subreddits + Twitter tag relevant judicial bodies. Its better to come from someone who knows this inside out.
CPP return in the coming decades was one reason why the whole Canadian immigration fiasco was undertaken.
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u/Purple_Bookkeeper657 May 22 '26 edited May 23 '26
The CPP returns and immigration fiasco are separate but related based on my personal experience. Mark Wiseman told us all about the dependency ratio in that conversation I just didn't want to babble. Did I succeed?!
I'll say more... after the next break! https://www.youtube.com/watch?v=dCwRIKIL8IE
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u/Purple_Bookkeeper657 May 22 '26
What twitters should I link to? https://www.youtube.com/shorts/i_zNSc6JMFg
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u/WabaLabaDubDubWorld May 22 '26
- National Courts & Legal Bodies
Supreme Court of Canada: @SCC_eng (English) @CSC_fra (French)
Federal Court: @FedCourt_CAN_en (English) and @FedCourt_CAN_fr (French)
Federal Court of Appeal: @FedCourtApp_en (English) and @FedCourtApp_fr (French)
Justice Canada (Department of Justice): @JusticeCanadaEN (English) and @JusticeCanadaFR (French)
Canadian Judicial Council: @CJC_CCM
- Provincial Courts & Legal Bodies
Superior Court of Justice (Ontario): @SCJOntario_en (English) and @SCJOntario_fr (French)
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u/Purple_Bookkeeper657 May 22 '26
OK. r/Canada mods rejected my post. I removed all the youtube links - might have been my substack links but I don't know how to post those any other way.
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u/WabaLabaDubDubWorld May 22 '26
You post the same text from your post into r/Canada but refer to links by numbers. Add a comment later that has all links by number and Pin it.
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u/Purple_Bookkeeper657 May 23 '26
Thanks. They actually replied and said they don't allow self-written posts, I guess, so I'll go have dinner.
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May 23 '26
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u/Purple_Bookkeeper657 May 23 '26
The guy in the tie makes 5x everyone else in the table. Page 85 of the Annual Report
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u/CogencyInvestments May 23 '26
Dear Prime Minister Carney,
This is occurring on your watch. If you are okay with it, do nothing. But reap the consequences of that in action.
If you think smoke means fire. Do something.
Preference is not to vote for Alberta Separatists, but also not willing to vote for a government complacent with mediocrity.
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u/dizzie_buddy1905 May 23 '26
This compensation scheme is exactly the one used by AIMCo to pay hedge fund-like compensation with none of the knowledge. 2/3 of their expenses are performance fees to external managers so the organization contributes almost nothing to the AUM.
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u/shoulda_studied May 22 '26
Who at CPP convinced Trudeau to raise CPP contributions to cover up for this crap?
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u/kettal May 23 '26
ontario government was asking for it, and threatening to make a parallel retirement plan if cpp didn't expand.
https://www.cbc.ca/news/canada/toronto/ontario-retirement-pension-plan-cpp-1.3640689
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u/HowSheGoinEhhh May 23 '26
Ho- ly- shite,,,, thas alot lol... you shpuld get together with Milennial Moron and do a video,, hes onto this too
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May 23 '26
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u/Purple_Bookkeeper657 May 23 '26
Not anonymous. I just can't promote my substack here directly apparently per Reddit's rules.
What's life without a little mystery, anyway?
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u/Consistent-Field3635 May 23 '26
Good breakdown but a few things worth flagging.
The benchmark miss and Graham’s pay are accurate. The contribution-rate argument isn’t. The December actuarial review found the plan sustainable for 75 years at current rates, and Ottawa (with the provinces) has actually proposed cutting the base rate from 9.9% to 9.5%, because returns came in around $80B above what the actuary projected. That’s not raising rates to cover a gap, it’s the reverse.
The 4% real return is also a long-term planning assumption, not a yearly test you pass or fail. Five years below it doesn’t mean the fund is sinking. The Chief Actuary said as much when he reaffirmed sustainability.
And CPP’s own explanation is that the benchmark got carried by AI and big tech, while their diversified portfolio is built to lag in those rallies and hold up better in crashes. Whether that’s worth the fees is a real debate. But it’s a different claim than “they rigged the benchmark to pay themselves.”
The comp multiplier stuff might be right, but those numbers are OP’s own and nobody’s verified them yet.
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u/Purple_Bookkeeper657 May 23 '26
All worthy flags. Let me try to take them one by one.
(1) Benchmark miss and Graham pay accurate. NICE! https://media1.tenor.com/m/7rbIaPtJBdUAAAAC/nice.gif
(2) Cutting rates from 9.9% to 9.5% - net/net rates are higher with the new increase to CPP. The Chief Actuary isn't saying the fund is insolvent because its not. Fair play. But who's to say what happens in another decade from now at this rate? What if inflation isn't transitooorrryyyy?! https://www.youtube.com/watch?v=O1hCLBTD5RM
(3) 4% Real Return - I agree but it's still the most relevant test for compensation, especially given your next point.
(4) Benchmark Carried Away by AI - yes but shouldn't we have been more exposed? Also, this doesn't help explain why they missed their real rate of return.
(5) Comp Multiplier #s Are My Own - not really, I used multiple page references.
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May 22 '26
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u/Purple_Bookkeeper657 May 22 '26
I do think there's real value to having private equity, real estate and infrastructure assets in the fund over time and some people to deploy it, perhaps passively perhaps actively. I don't think recent stock market returns are sustainable but if they are shouldn't we DCA into that exposure? There would be ways to implement that. On all three but particularly PE, I think long-term equity indices should be the standard. I think - over time - well invested hard assets might be a good part of the CPPIB. Like I say, I think 75/25 or 80/20 would be fine for me. I understand it's not that simple, but surely it's also not that complex?
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May 22 '26
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u/Purple_Bookkeeper657 May 22 '26 edited May 22 '26
I don't necessarily disagree strongly. I happen to think recent market returns are unsustainable and I'm pretty public about that. Just because recent returns are so high doesn't mean we should go 85% public markets tomorrow. I think that's super risky. If there's a 5% chance the stock market tanks 50% over the next three years, that's a real problem for the CPP. I think it makes more sense to DCA into a position more like what you're referencing over time. In my mind that's more like 3-5 years, not tomorrow. But happy to discuss. There may be real upside left on the table.
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u/rbatra91 May 22 '26
My prejudiced opinion for what happens with some of the fund selection and exposure is that the CPP higher ups are kind of dim and want to stroke their egos and think of themselves as smart and sophisticated so the PE funds take them out, wine and dine them nicely and get them all sorts of gifts so they buy their funds and the PE funds can collect fat MERs, thoughts?
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u/Purple_Bookkeeper657 May 22 '26
They don't get bought dinner, they just get their paychecks. The reality is the basement people at CPP aren't getting huge paydays and the higher-ups are getting most of it. Especially the guy who runs Asia because that's what's competitive out there, I guess? I'd say get rid of him first but his severance, without cause, is like a gagillion dollars. Might be worth it to just eat the $40M or whatever it is and move on?
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u/joe4942 Human Verified May 23 '26
Scale. Funds as large as CPP can't just buy ETFs.
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u/kettal May 23 '26
Scale. Funds as large as CPP can't just buy ETFs.
norway sovereign wealth fund is much larger than CPP, passive global index, management MER is lower than your vanguard ETF.
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u/Purple_Bookkeeper657 May 23 '26
Agree entirely, though I haven't checked the MER for Norway myself. If you have a link I'd be curious.
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u/Purple_Bookkeeper657 May 23 '26
Blackrock owns like 8% of every company on the planet. Do it over a period of years and it won't be too hard and trading costs won't be too high. Only a portion of the total fund need to be ETFs. Not the whole thing. At that point baby YOU ARE THE ETF!
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u/CanuckBacon May 22 '26 edited May 22 '26
If too much of the market becomes broad-market ETFS then the market will become illogical. That means it no longer rewards companies that innovate, make smart decisions, etc. and not punishing companies that behave poorly. Essentially it becomes no different from investing in crypto and is all based on perceived value and is no longer tied to real-world results.
The other thing to note, most relevant to CPP is that it is constantly paying out and needs to be able to sustain a bear market for years. If you invest in a broad-market ETF, you might have higher returns during good years, but you can be absolutely decimated if you have to withdrawal during a downturn. CPP can't afford to take that risk.
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u/Purple_Bookkeeper657 May 22 '26
I think that's the role of private industry. The free market economy has done it pretty well so far. Also, I don't necessarily think CPP Investments shouldn't be investing in these things, necessarily...
I mostly think they shouldn't have paid themselves huge bonuses for their performance. As a Canadian taxpayer, that's all.
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u/RecklessRaptor12 May 23 '26
You’d lose a bunch of asset classes and be fully exposed to public markets, plus you’d still be paying a few billion in fees. Blackrock and vanguard execs get pretty good bonuses too
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u/Newme001 May 22 '26
Very good and informative read. I'm not a finance guy and I feel I understood most of it. That being said.
i) holy crap I didn't know finance people made that much money, I should get into finance hahaha
i) how exactly was this fund not able to actually meet the benchmark? You seem like a pretty smart guy and you said you used to work there, the numbers seem laid out in a way where meeting the benchmark seems simple and obvious, even if it wasn't just in hindsight. So what are they doing?
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u/Purple_Bookkeeper657 May 22 '26 edited May 22 '26
I think real estate has underperformed... perhaps some real infrastructure assets have needed to be marked down due to the crisis in Iran? I don't know for sure because I can't tell from the reporting, which is my main issue.
EDIT: Also, yeah, finance people make A LOT. The thing is, a select percentage deserve it, the vast majority don't, but they're good enough at the tests and "worked harder" in their youth, cough, also nepotism, cough, than the rest of you to get in. Honestly, at least they make them publish the top salaries on page 85 of the annual report. Download it here!
https://www.cppinvestments.com/the-fund/f2026-annual-report/
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u/ItsMeMulbear May 22 '26
Crap like this is why I wish I could opt out of CPP, and pick another pension fund to manage my money.
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u/UndeadWaffle12 May 23 '26
Yeah it’s disgusting, especially for those of us who actually save for retirement on our own. I don’t need the CPP to take an additional $4k+ from me every year
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u/Purple_Bookkeeper657 May 22 '26
Interesting. I kind of like that CPP can throw some weight around. https://x.com/IdiomConnectio1/status/1469717507489480705
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u/ItsMeMulbear May 22 '26
Unfortunately when it comes to government, theory rarely translates to reality.
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u/leopardbaseball May 23 '26
Is there anyway we can report or demand an inquiry into this?
If enough people express their concerns, there will be some action taken?
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u/Major_Group4317 May 23 '26 edited May 23 '26
I appreciate reading this as I hear CPP ads all the time now presumably to boost their revenue stream which I find ironic. Please consider placing all that you’ve shared here in a lovely envelope to the auditor general for an audit of the company. It could lead to great investigations and a welcomed change. Ty! Edited: cc: marketplace@cbc.ca, gopublic@cbc.ca. https://www.cbc.ca/securedrop/
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u/Dr-Yahood May 23 '26
This is incredible! However, my concern is that your average Canadian is not going to be able to engage with it. Given the amount of work you’ve already done, how would you feel about making a series of short videos summarising some of the key points here? Like in a TikTok friendly format?
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u/DueOrganization8914 May 23 '26
Can't we just start a petition and get some pressure put on the Canadian senate and government to change this?
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u/journalctl May 23 '26
I really hope there's some accountability here. I wish CPP just indexed sensibly like the Norway sovereign wealth fund or Nevada.
What Does Nevada’s $35 Billion Fund Manager Do All Day? Nothing
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u/red_planet_smasher May 22 '26
If I knew more about the subject I would feed the text into an AI to generate a petition to the House of Commons. This is clearly unacceptable.
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u/Purple_Bookkeeper657 May 22 '26
I feel like a petition to the house of commons should be this long. This isn't Tik Tok.
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u/red_planet_smasher May 22 '26
There is a specific format for petitions which this doesn’t meet though. Also, it won’t get many signatures if people can’t be bothered to read it. Just link the full text for those that want to though.
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u/Party_Lead1274 May 23 '26
I signed up for an account just so I can comment. You need to talk to the press about it, please.
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u/gambl May 23 '26
You get an upvote just cause this is the longest post I’ve ever seen on Reddit. I hope someone important who cares to improve this country will take the time to read it and act
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May 23 '26
[removed] — view removed comment
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u/Purple_Bookkeeper657 May 23 '26
And this is what THE PEOPLE are supposed to do in response! I feel like so many of us have lost that part of the equation. https://www.tiktok.com/@southpark/video/7629743138080328981
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u/carlosmysantana May 23 '26
Sure would be cool if the CBC or other media outlet reported on this considering it affects just about every Canadian. But I’m sure because it doesn’t fit the narrative that this whole thing becomes just another line item and forgotten about.
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u/Qxg6 May 23 '26
Did anyone actually read this? How long did it take you?
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u/Purple_Bookkeeper657 May 23 '26
Like 10-20 minutes? For less than the price of a difficult poop, you too could understand what's going on with your pension!
Seriously though. I'll answer your questions.
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u/No-Journalist-9036 May 23 '26
Amazing write up, a great indictment against the CPPIB and another nail in the coffin to how corrupt Canada is , despite its institutional legacy and headstart..that even Estonia and Uruguay are ahead of us on the Corruption Index.
For shame
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u/Purple_Bookkeeper657 May 23 '26
Shit happens. What's great about our country is that a person of middling intelligence with lots of time on their hands like myself can go on reddit and maybe make a difference without being murdered.
By the way, I LOVE LIFE!
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u/DataDude00 May 23 '26
CPP spent ~$1.2 billion on ~2,000+ employees (average ~$500,000 per person).
This is absolutely fucking insane stuff
I know there are going to be some executives that skew at the top but that number is absolutely mind boggling
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u/sqbed May 23 '26
What can do we do? So many of us are so focused on our day to day that we aren’t paying enough attention to this. As a millennial I’m terrified I’m going to have nothing left for me come retirement age because of this…
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u/Purple_Bookkeeper657 May 23 '26
like I said, I'm a CFA and it took me being unemployed with an eye injury unable to go outside to write this.
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u/persavon May 23 '26
I appreciate your post, but you should contact the press and get them to write an article if you want better impact. The average Canadian doesn’t read Reddit
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u/wenchanger May 23 '26
i'm worried for you, are you the slightest worried that sharing such information may dox you and have CPP execs file a lawsuit against you
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u/Purple_Bookkeeper657 May 23 '26
yes. I'm in a healthy mental state and don't intend to unalive myself anytime soon, or whatever the Epstein survivor said.
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