Uh oh. Somethings wonky in Canada, Contrarians (hat tip to Tom’s Rants, via The Eclectic Econoclast, who lives in Ontario)
The Canadian Pension Plan [CPP] has a reserve fund that is invested in the market, not in special gubmnt securities, as is the U.S. Social Security fund. Last year, this reserve fund earned a return of more than 5%.
The Canada Pension Plan earned 5.2 per cent on its investments in the third quarter, or about $3.9 billion, the CPP Investment Board said Friday. At the close of the quarter, the $77.2-billion CPP reserve fund consisted of $43.8 billion in publicly traded equities, private equities, real estate and infrastructure, and $33.4 billion in nominal fixed-income securities.
Woops. Guess 2 things: a) moving to Canada is no longer an option, what with the opposition to partially privatizing SS thing and all, and 2) keep focussing on the Gannon/Guckert thing while the GOP pushes SS reform through here in the US.
