A lot of oversight of teachers' pension fund despite possible FTX loss: Ontario government

Finance Ministry spokesperson Scott Blodgett said in an email Tuesday that Ontario’s broader public sector jointly-sponsored pension plans are administered by boards of trustees which oversee the management and administration of the plans, including monitoring investment risks and ensuring appropriate mitigation plans are in place.Sign up to receive daily headline news from the Ottawa SUN, a division of Postmedia Network Inc.

The pension plan, which provides a defined pension indexed to inflation, is sponsored by the Ontario Teachers’ Federation and the Ontario government. The plan describes itself online as a “story of disruption… a story of challenging the status quo and taking calculated risks.”tap here to see other videos from our teamIn an earlier statement, the OTPP confirmed it had invested $75 million in both FTX International and its American entity last October and an additional $20 million in January.

“While there is uncertainty about the future of FTX, any financial loss on this investment will have limited impact on the plan, given this investment represents less than 0.05% of our total net assets,” the OTPP statement says.Share this article in your social network

The government needs to mass educate Canadians that crypto is nothing more than a scam.

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Ontario Teachers' Pension Plan invested US$95M into failing crypto platform FTXThe Ontario Teachers\u0027 Pension Plan says it invested US$95 million into failing cryptocurrency exchange platform FTX Trading. Makes sense that the clueless woke mob wouldn’t have any financial sense. Total assets: 221 billion Too risky for a pension fund - good thing it wasn’t more!
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Ontario Teachers' Pension Plan invested US$95M into failing crypto platform FTXThe Ontario Teachers\u0027 Pension Plan says it invested US$95 million into failing cryptocurrency exchange platform FTX Trading. Perspective: Ontario Teachers Pension Fund is $241.6 BILLION. The $95million represents 0.039%! Karma sucks. Karma sucks.
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