Bloody retirementMillions of Canadians make compulsory contributions to the Canadian Pension Plan (CPP). A special investment board is charged with the task of investing CPP surplus funds. The federal and provincial finance ministers appoint members of the investment board and also act as stewards of the board. With assets of over $90 billion, the CPP board controls one of the largest funds in the country. The board’s main concern is to receive a high financial return on its investments. Because the arms industry is one of the most profitable places to invest today, CPP funds are invested in some of the world’s leading arms manufacturers. To date the board has resisted putting in place criteria that screen out military investments. Officially, Canada did not join the U.S.-led invasion of Iraq. However, Canadians have supported the war effort through CPP investments in companies like Lockheed-Martin, Raytheon, Northrop Grumman and General Electric.1 Canadian contributions have helped these and other companies produce anti-personnel cluster bombs, incendiary bombs, field artillery weapons, cruise missiles, as well as parts for fighter and bomber aircraft, warships, missile launchers and battle tanks. All of these weapons and delivery systems have been used in the war against Iraq.
1For more information on CPP and military investements, see the research of the Coalition to Oppose the Arms Trade (COAT). |
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