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Teachers across the province are seeing red after Alberta’s finance minister quietly signed ministerial orders at the end of the year that they say give the government-owned investment manager more control over workers’ pensions.
One of four orders signed by Finance Minister Travis Toews on Dec. 23 changed the terms of the Alberta Teachers’ Retirement Fund (ATRF) to allow the Alberta Investment Management Corporation (AIMCo) to reject changes proposed by the pension manager in its investment policy.
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The finance minister and premier might call this administrative reform. We call it theft, said Alberta Federation of Labour (AFL) president Gil McGowan