Whose Money Is It Anyway
The Showdown on Pensions
Publisher: Viking Penquin Books Canada
Year Published: 1988
Pages: 278pp Price: $26.95 ISBN: ISBN 0-670-82282-5
Resource Type: Book
Cx Number: CX3719
Abstract: Ann Finlayson makes a convincing case that all is not well on the pension front in Canada. She shows that despite the pension system, many of the old are forced onto welfare; that both private and public pension schemes have discriminated against women, that most Canadians have absolutely no say over how their pension money is invested, and that there is no guarantee that we will ever collect the money we pay into pension plans. The considers the issue of control to be crucial, and demonstrates how corporations repeatedly remove money from employees' pension plans, "quite legally and with the full blessing of weak and ineffectual pension authorities". Many other employers have not contributed a penny to their employees' pension plans in years -- again, quite legally. Finlayson argues that needed changes will only happen when Canadians start insisting on more knowledge and more control over their pension schemes. If this were to happen, it could also mean that pension funds could be invested in socially useful priorities such as housing, priorities that would be democratically established by the workers' whose pensions the funds contain.