A number of members have communicated concerns regarding the investment decisions made by AIMCo on behalf of PSPP Corporation and the PSPP fund. We appreciate hearing from our members and acknowledge the concerns raised.
The Government of Alberta has mandated that AIMCo is the exclusive investment manager for the PSPP fund. PSPP Corporation is required to engage AIMCo to provide investment management services to the PSPP fund. AIMCo is responsible for making investment level decisions within the policy asset mix and the investment policies approved for the Plan. AIMCo’s Responsible Investment Policy and approach is publicly available on their website.
PSPP Corporation is responsible for establishing the Plan’s policy asset mix and investment policies and guidelines. The asset mix is determined using a comprehensive modelling approach to Plan liabilities and required cash flows to determine an optimal, risk-adjusted investment strategy. PSPP Corporation receives regular reporting and communicates frequently with AIMCo regarding investment performance and compliance with investment policies. The Plan fund is well positioned to meet the long-term return objectives of the Plan to ensure plan benefits are funded.
PSPP Corporation is in the process of renegotiating its investment management agreement with AIMCo by the end of 2020. A focus of this process is working with AIMCo to enhance alignment on the objectives and risk tolerances for the PSPP fund.
Members are welcome to write to the PSPP Corporation Board of Directors at board@pspp.ca.