Water activists to put petition against pension fund before Toronto teachers

[Judi Lynn]

Source: The Canadian Press

From Dominique Jarry-Shore, The Canadian Press, August 31, 2010 - 3:51 p.m.
Water activists to put petition against pension fund before Toronto teachers
By Dominique Jarry-Shore, The Canadian Press

TORONTO - The Council of Canadians is going head-to-head with the Ontario Teachers’ Pension Plan — a Goliath in the world of pensions — over investments in privatized water in Chile.

As close to 20,000 Toronto teachers gather for a back-to-school professional development day Wednesday, the access-to-water activists will be on hand trying to get teachers to sign a petition against the very fund mandated to guarantee the golden years of their retirement.

So far the campaign has been a hard sell with the Ontario Teachers’ Federation, which has refused to commit to pressuring the pension plan to divest from the investment after a meeting with the council in February. The council was also disappointed after a meeting that same month with the CEO and president of the Ontario Teachers’ Pension Plan, Jim Leech, who says it’s up to the people of Chile to decide how they want to provide water to their people.

~snip~
“In the end the prices go up. On average around the world it’s about 50 per cent higher for private water services, and if you’re poor that 50 per cent can be the difference between being able to have it and not.”

Barlow said the teachers she’s spoken with are shocked to learn their pension is investing in privatized water, especially since many of them believe the service, much like education, should be public.





Read more: http://www.canadianbusiness.com/markets/headline_news/article.jsp?content=b4368414

[OnlinePoker]

1. I would never have bought my house if not for the OTPP.

They bought the apartment I was living in, did minor landscaping and painting, and then jacked my rent (after Ontario government approval) by $260 per month. I looked at the numbers and it was cheaper to buy. There is definitely no social conscience in the way they invest the teachers pension funds.