
Pension Power
Unions, Pension Funds, and Social Investment in Canada
Isla Carmichael(Author)
University of Toronto Press
Will be published approx. on 23. October 2005
Book
Hardback
225 pages
978-0-8020-3647-6 (ISBN)
Description
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.
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.
More details
Language
English
Place of publication
Toronto
Canada
Target group
Professional and scholarly
Product notice
With dust jacket
Dimensions
Height: 235 mm
Width: 155 mm
Thickness: 19 mm
Weight
499 gr
ISBN-13
978-0-8020-3647-6 (9780802036476)
Copyright in bibliographic data and cover images is held by Nielsen Book Services Limited or by the publishers or by their respective licensors: all rights reserved.
Schweitzer Classification
Person
Isla Carmichael is the director of policy for the Ontario Expert Commission on Pensions, and a sessional lecturer at the Department of Adult Education and Counselling Psychology at the Ontario Institute for Studies in Education, University of Toronto.
Content
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
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