The Canadian Union of Public Employees (CUPE) will undertake an assessment of the financial sector this week in Ottawa with several renowned experts in the field, specifically with regards to workers’ pension plans.
The security and viable management of workers’ pension programs face grave problems amidst turbulent financial markets with such factors as: the decline of the US dollar, the rise of private equity and hedge funds, the bursting of the American real estate bubble and subsequent contamination of the global financial system, feverish speculation about fuel and agricultural products, the development of “Public-Private Partnerships” – the list is daunting and long.
“Worker retirement programs in Canada stand to suffer estimated losses of $7 to 13 billion from the rerouting of Asset-Backed Commercial Paper in Canada (ABCP) which was supposed to have been a ‘secure’ investment. This example is a reminder of the risks to workers of unstable, under-regulated, and increasingly complex financial markets.˝ says Paul Moist, CUPE national president.
WHAT:
Renowned experts convene for CUPE National Pension Trustees strategy session titled “Securing Our Pensions, Today and Tomorrow”
Pension plans: challenges today and tomorrow
Murray Gold, lawyer, Koskie Minsky
Monday, 12 May 2008, 7:00 p.m.
Challenging pension investment in P3s
Éric Pineault, professor, University of Québec in Montréal
Tuesday, 13 May 2008, 9:00 a.m.
Transparency, accountability and pension plan governance
Diane Urquhart, independent financial analyst
Tuesday, 13 May 2008, 12:00 p.m.
WHERE:
Château Laurier, Ottawa
-30-
For interviews or further information: Pam Kapoor, CUPE Communications, 613.853.8089; Sébastien Goulet, CUPE Communications, 613.808.0675
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