Politicians are lining up to influence pension fund investment decisions. For the sake of future retirees, they need to be resisted

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Canadian public pension funds are respected around the world and consistently lead the global tables for returns. These funds already invest significantly in Canada, so why are so many Canadians beginning to demand that they invest even more?

The appointment of former Bank of Canada governor Stephen Poloz to lead a working group on this issue will give more Canadians a chance to both learn about what makes our pension system world class and confront the real elephant in the room. The problem facing Canada is not that Canadian pension funds are not investing enough in our country. The problem is Canada, and forcing investment decisions on our pension funds won’t fix it.

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In 1999, just as the newly formed Canada Pension Plan Investment Board (CPPIB) began receiving funds to invest for Canadians, politicians were already trying to influence its investment decisions. In response to the NDP questioning the ethical implications of the CPP holding investments related to tobacco, Finance Minister Paul Martin........

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