A $520 Billion Retirement System Comes Under Fire in Western Canada

The Alberta Investment Management Corp. (AIMCo), a Canadian pension fund managing over $520 billion in assets, has come under scrutiny in Western Canada. Within eight months, the organization has undergone significant changes, including the dismissal of its entire board, the closure of new offices in Singapore and New York, and the elimination of more than two dozen jobs. These actions reflect the turmoil and challenges facing the pension fund, which is responsible for managing the retirement savings of Alberta's public sector employees. The article suggests that the recent upheaval at AIMCo is indicative of broader concerns regarding its performance, governance, and strategic direction. The rapid changes at the top and the restructuring of the organization's operations underscore the need for increased transparency and accountability within the pension fund. As a major player in the Canadian investment landscape, the issues surrounding AIMCo are likely to have far-reaching implications for the retirement security of public sector workers in Alberta.