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I wish I knew why more Canadians aren't outraged by the CPP investment board. They manage our retirement pension fund, and they also choose the criteria by which they are judged.

In 2024, their sophisticated investments have underperformed a simple passive benchmark by over 10%, which harmed their performance bonuses. They responded not by changing their investment strategy, but by CHANGING THE BENCHMARK.

This should be a scandal, and yet somehow it's not. The old benchmarks should be legislated back, so that the CPPIB is required to report on whether they are capable of outperforming a simple passive investment strategy.