Alberta Investment Management Corporation (AIMCo) is the legislated investment manager of PSPP’s $21 billion pension fund. In 2020, a trading strategy implemented by AIMCo resulted in a loss to PSPP of approximately $350 million. Since that time, we have exercised our contractual rights to pursue recovery of the loss in accordance with our agreement with AIMCo.
On November 25, 2025, the Government of Alberta announced Bill 12. The Bill includes provisions granting AIMCo retroactive immunity from any financial claims arising from decisions made prior to November 2024. As a result, once passed, our ability to hold AIMCo accountable for the 2020 trading loss would be removed.
We are disappointed that Bill 12 eliminates our ability to pursue recovery of the loss on behalf of PSPP members.
We want to assure our members that your pension plan remains fully funded and member retirement pensions are secure.
We will continue to act in the best interest of our members to protect their retirement security.