The provincial government continues to make changes to AIMCo, the Alberta Investment Management Corporation, the investment manager for multiple pension, endowment, insurance, and government funds. AUPE’s leadership, representatives, and Pensions Committee are keeping close watch of how political decisions impact AUPE members’ pensions.
In 2019, the Alberta Government passed a new law that made AIMCo the investment manager of our Local Authorities Pension Plan (LAPP) and Public Service Pension Plan (PSPP) regardless of their service or performance. Most recently, the Alberta Government fired AIMCo’s entire board of directors and replaced its CEO. Given these circumstances, we are carefully monitoring the situation and any potential impact to our pensions.
Your PSPP and LAPP plans each have a corporate board and sponsor board, all of which play an important role in governing your pensions. AUPE has representatives on each board and helps direct how the boards function. AUPE members will be defended by AUPE representatives on these boards.
It is important to know that our pensions are healthy, fully funded plans. Plan members will continue to accrue their pension entitlement. Retired members will continue to receive benefits.
AUPE's leadership and Pensions Committee will continue to update you on any potential changes to your retirement savings and income. AUPE representatives are there to step in, speak up, and defend your interests as AIMCo attempts to follow each pension plan’s investment policies and procedures.
Your AUPE Pensions Committee will provide new education opportunities about the LAPP and PSPP in the new year. Our goal is to ensure you have the information you need to understand your pension and make informed decisions.