this post was submitted on 23 Jun 2026
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CPP is ran by finanace schmucks that pay themselves a ton to make worse investments compared to how the fund was originally managed (passive). They also invested like 500mil or something into a French retirement home/ care facility that went bankrupt because they were abusing their patients. The fund used to a passively managed fund, but they convinced the government they should step in to make more money. Since then they've paid themselves millions, have foreign offices, yet have only out performed the old fund that they started using as a benchmark for one quarter. Or something like that anyways.
Pension fund investing in the profitability of foreign care facilities... not contradictory at all.
People were talking in Brazil about transforming the social security fund from a solidarity model (current contributors fund the pensioners) to a financial model. In the end it's not at all about performance of the pension, but about capitalist control of workers' pensions.
I honestly think the social democrat mindset of relying on the (bourgeois) state to fund any social benefit is doomed to fail. At every opportunity, capitalists try to parasite the pensions and transform them into financial assets.