Since its acquisition in 2006, PSP has owned and operated the second-largest for-profit LTC company in the country under the name ‘Revera’. Our first year . The Public Sector Pension Investment Board (PSP) is a federal crown corporation established in 1999 to invest the pension funds of federal public service workers, along with most of military personnel and RCMP employees. www.investpsp.ca; Board Profile ; Crown Corporation (Exempt from Part X of the FAA) Minister Responsible. Join us in calling on the government to make Revera Inc. public. The vast majority of COVID-19 deaths in Canada have occurred in for-profit long term care homes with no solution in sight. PSP’s ownership of Revera … Public Sector Pension Investment Board The information presented on the following pages is for reference purposes only and should not be considered or relied on as an authoritative or exhaustive source of all Governor in Council appointments or positions. He is asking the government to initiate discussions between the Public Sector Pension Investment Board, the Crown corporation that owns Revera, and … For months, PSAC members have been calling on the federal government to facilitate talks between PSP and provincial health ministries in support of a transition to public ownership. TORONTO — A public sector union is reiterating a call for its pension investment manager to divest its ownership in Revera Inc. over the company's safety … Thus, Revera, which is a for-profit company, formed out of Central Park Lodges and Retirement Residences REIT, is now fully owned by the pension plan of the … Revera is a wholly owned subsidiary of the Public Sector Pension Investment Board (PSP), a federal crown corporation that manages the pension plans of federal public service workers. Revera Inc. is a Canadian company that provides accommodation, care and services for seniors.It owns and operates retirement residences and long-term care facilities. A May 26 press release from the Public Service Alliance of Canada (PSAC) informs that National President Chris Aylward has called on the Public Sector Pension Investment Board (PSP Investments) "to end its investment" in the long-term care provider Revera and instead "put the second largest Canadian network of for-profit long-term facilities under public ownership and control." Revera is a for-profit enterprise owned by the Public Sector Pension Investment board, which is a Crown corporation that operates at arm’s length from the federal government. Mississauga-based Revera, the Public Sector Pension Investment Board subsidiary that owns both Maples PCH and Parkview Place, had told the WRHA it had 13 health care aides working that Friday night. The federal government, through the crown corporation Public Sector Pension Investment Board, is the sole owner of Revera Inc. – and therefore the owner of Canada’s second-largest chain of for-profit long-term care facilities. As the first step, Revera is the perfect place to start—because it’s entirely owned by a crown corporation: the Public Sector Pension Investment Board. They later admitted they’d made a miscalculation, and only seven were there to care for residents at the 200-bed facility. More than 100 at the care home have tested positive for COVID-19, … We began operations in 2000, with two key asset classes: Public Markets and Fixed Income. The union representing more than 200,000 Canadian public sector employees says the Public Sector Pension Investment Board’s investment in a … Revera, which operates more ... Revera is a wholly owned subsidiary of the federal Public Sector Pension Investment Board and has faced calls to be taken public amid the pandemic. Article content continued. As a former public service employee, her pension plan is managed by the federal Public Sector Pension Investment Board — which owns a 100 per cent stake in Revera Inc. “Our pension … The report lobs several criticisms at government and public health officials, even though Revera is a for-profit enterprise owned by the Public Sector Pension Investment board, which is … As of 2007, PSPIB Destiny Inc. has purchased all shares. The report says Revera often received contradictory advice from various levels of government in Ontario and the province’s 34 municipal public-health units on … PSP Investments was established by the Public Sector Pension Investment Board Act in 1999. Public Sector Pension Investment Board (PSPIB) Subsidiaries held at 100 per cent (including only its first level subsidiaries) 3Net Indy Holdings Inc. 3Net Indy Investments Inc. 7986386 Canada Inc. 8599963 Canada Inc. Argentia Private Investments Inc. AviAlliance Canada Inc. AviAlliance Terminal Management Inc. Belle Bay Private Investments Inc. Blue & Gold Private Investments Inc. … In a first for the senior living sector in Canada, the company added a Chief Medical Officer in October 2017, Dr. Rhonda Collins.In October 2006, PSPIB Destiny Inc., a subsidiary of the Public Sector Pension Investment Board, a crown corporation, offered to purchase all outstanding units of Retirement REIT at $8.35. The Public Service Alliance of Canada, which represents 140,000 public sector pension plan members, first said in May that for-profit long-term care homes run by Revera should no longer be wholly owned by Public Sector Pension Investment, the Crown corporation managing public servants' pensions. The Public Sector Pension Investment Board (PSP Investments) is a Canadian Crown corporation established by an act of Parliament in September 1999. COVID-19 has put thousands of our loved ones at risk and it is only getting worse. PSP Investments is one of Canada’s largest pension investment managers, with $168 billion of net assets under management as at March 31, 2019. In a statement earlier this month in response to the Alberta lawsuit, Revera … Revera is a for-profit enterprise owned by the Public Sector Pension Investment board, which is a Crown corporation that operates at arm’s length from the federal government. We are a Canadian Crown corporation that invests funds for the pension plans of the federal public service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. Revera’s report, compiled by the 10-member panel of government, corporate and academic health care specialists, comes amid mounting concern about the for-profit long-term care sector in Canada. The public-sector pension fund had $168-billion in net assets as of March 31, 2019. 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