Jack Mintz: Don’t add ESG to pension plan woes

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Jack Mintz: Don’t add ESG to pension plan woes
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We need to keep Canada\u0027s pension funds healthy by not distorting how they earn the best possible returns for their members. Read more

Pension funds have done well over the years so their recent difficulty is far from being a crisis.

The big four pension plan portfolio losses likely would be much larger if half their portfolios weren’t invested in assets that, unlike publicly traded stocks and bonds, don’t have a constantly observable market price. Thus OTP’s marketable bonds and equity were down $4 billion but it figures its less liquid assets offset that so its overall portfolio was up. CPPIB thinks its non-marketed assets broke even, with almost all its losses due to stocks and bonds.

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