Category: BC Investment

Heads they win; tails we lose – updated

Pension managers got huge salary increases; pensioners pay a price. The fiscal year that ended March 2020 was not a rewarding one for public pension funds run by BC Investment Management Corp. The rate of return earned was less than half that of the preceding year and failed to meet client benchmarks. While current and future pension beneficiaries did poorly, the people running BCI did swimmingly well. Regardless of whether investment returns are above or below conveniently flexible benchmarks, massive salary increases are given. For pensioners, this fits the old quip, “Heads they win; tails we lose.”

Enough said

Regular readers will be aware that BCI has a long history of extravagant rewards to insiders. These measure 3x to 5x amounts paid to top people at the similar organization in Washington, one which has generally had superior investment results…

Rubes with pockets to be picked

Salaries have risen dramatically for years at BCi, the province’s public pension funds manager. Current and future pension beneficiaries are treated as rubes with pockets to be picked. The amount paid the company’s CEO increased 430% since 2007. But others have done well too…

Not-Net-zero, on steroids

If you are a member of a public service pension, you may know that retirement benefits have been cut in recent times. What has not been cut is remuneration of top executives at pension fund manager bcIMC, where it appears that compensation rises steadily, whether investment returns are good or bad.

Disvalue for money

In its last fiscal year, BC Investment Management Corporation (bcIMC) paid its top five executives $7.25 million. In its last fiscal year, Washington State Investment Board (WSIB) paid its top five executives $1.76 million. In Victoria, CEO Gordon Fyfe is paid almost five times the amount paid Gary Bruebaker, WSIB’s  Chief Investment Officer…

Executive sweet

Thousands of BC government employees lost jobs to privatization and service cuts. Even more lost income through reductions in employment and pension benefits and, with efforts to reduce public services continuing – […]

Pushing back on the pushback

Reprinted from August 2013: Anonymous reader argued through earlier comments that comparisons between BC Investment Management Corporation and Washington State Investment Board are inappropriate “apples and oranges.” The person attempted to justify […]


The tobacco industry is being sued by Canadian provinces that aim to recover more than $100 billion in healthcare costs associated with tobacco related illness. British Columbia is one of the plaintiffs. […]