Pension Power : : Unions, Pension Funds, and Social Investment in Canada / / Isla Carmichael.

• Superior document: Title is part of eBook package: De Gruyter University of Toronto Press eBook-Package Backlist 2000-2013
• VerfasserIn: Carmichael, Isla,
• Place / Publishing House: Toronto : : University of Toronto Press, , [2016]; ©2005
• Year of Publication: 2016
• Language: English
• Physical Description: 1 online resource (225 p.)

Canadian pension fund assets are second in size only to the combined financial assets of the major banks and have become a critical source of capital for national and international markets. Given their tax-exempt status, pension funds can provide the long-term capital needed to build a new economy based on real productivity. The funds are controlled by an intricate web of financial and legal standards but, as deferred wages, are largely beyond the control of workers or their unions.In Pension Power, Isla Carmichael argues that unions could ? and should ? have a new role to play in the economy by gaining control over their members? pension funds. She demonstrates how the financial industry?s access to the capital goes against the interests of working people, and she provides convincing evidence that union management of pensions would better protect benefits and offer support in building infrastructure in communities and protecting the environment. This is a work of singular commitment to a fundamental shift in the structure of managing one of Canada?s largest pools of capital.

Table of Contents

Frontmatter -- Contents -- Tables and Figures -- Preface and Acknowledgments -- Introduction -- Part 1 -- 1. The Development of Unions and Workplace Pension Plans -- 2. The 'Prudent Man' Rule and Maximum Rate of Return -- 3. The Expansion of Capital Markets -- 4. Shareholder Activism -- 5. Unions, Social Investment, and Corporate Accountability -- 6. Value, Capital Accumulation, and Radical Accounting -- 7. Venture Capital, Economically Targeted Investment, and Economic Development -- Part 2 -- 8. A Case Study of Concert -- 9. Carpenters and Concert: Social Accounting Models -- 10. Collingwood and Concert: Union and Community -- Part 3 -- 11. Accounting for Social Investment -- 12. Two Models for Union Control of Pension Funds -- 13. Education and Research -- 14. Future Research -- Conclusion -- Appendix: Canadas Top 23 Pension Funds -- References -- Cases Cited -- Index