Teachers apparently depend on malls for 17% of their pension

I’ve always known Polo Park as one of the premier malls in Winnipeg. This year, I noticed that they’ve been stylizing their name as CF Polo Park.

I did a bit of digging and found out the CF stands for Cadillac Fairview, a real estate firm responsible for several famous malls in Canada, such as Polo Park, Eaton Centre in Toronto, Pacific Centre in Vancouver, and Chinook Centre in Calgary. Aside from a total of 73 properties in Canada, they also have investments in South America as well. Needless to say, they’re a pretty big deal.

Looking even further, it turns out that they are only a subsidiary company. But to whom?

Oh, just an independent company called the Ontario Teachers’ Pension Plan.

Obviously, an investment firm like this would diversify their funds for all their pension earners, so Cadillac Fairview is only a drop in the bucket for them.

To put this into perspective, Cadillac Fairview has an estimated worth of over $29 billion.

Contrast that with Ontario Teachers’, who have over $171 billion in global assets (as of 2015).

Long story short, teachers in Ontario depend on the revenues of CF malls across Canada to fuel 17% of their pension earnings. I guess they shouldn’t be shopping online anymore!

Yes, I’m a bit of a loser for looking up this kind of stuff instead of porn.