The Canada Pension Plan (CPP) is Canada’s national retirement plan. It's designed to provide a basic income for millions of Canadians in their retirement.
CPP Investments is the professional investment organization that manages the assets of the CPP Fund. CPP Investments has helped grow the CPP Fund from $36 billion to $675.1 billion. We use our size and scale as a competitive edge to gain access to deals around the world that help grow the CPP Fund. Our long investment horizon means we can assess our strategies and opportunities over decades, not just over quarters or years.
Our 10-year annualized return of 9.1% (as at September 30, 2024), after all expenses, ranks among the top performing pension funds in the world. CPP Investments is proud to continue to grow the CPP Fund, so your CPP will be there for you when you retire.
When it comes to pensions, there is strength in numbers. Pooling contributions from more than 22 million Canadians helps protect the CPP Fund from market volatility and changing demographics.
The CPP Fund is invested in Canada and in more than 50 countries. It holds assets in many sectors, such as Alberta oil and gas, ports in the United States, and toll roads in Australia. The investment returns we generate abroad are brought back to pay pension benefits in Canada.
Since its creation nearly 60 years ago, the CPP guarantees full portability across every province and in almost 60 countries, allowing you to access your pension wherever you live.
Independent experts have concluded the CPP is financially sustainable for generations to come. That means you, your children, and grandchildren can rely on the CPP for security in retirement.
The CPP Fund is managed by investment professionals who invest the funds and maximize returns without taking excessive risk. Governments do not direct how or where the CPP Fund is invested.
Right now, your CPP is safe, secure and set.
"Our Pan-Canadian goal is to advocate for seniors and retirees in securing a life of dignity, independence and financial security - that includes advocating to protect the CPP.”
National Pensioners Federation
“For more than half a century, we’ve nurtured a pension system that works, that is studied and copied by other countries around the world. It’s reliable. It’s sustainable for generations. The CPP isn’t broken, and we shouldn’t take the risk of pulling it apart.”
Canadian Association for Retired Persons & Seniors United Now
“The CPP makes up a significant portion of many of our members’ retirement incomes. A provincial plan would be especially risk-laden for people close to retirement who spent their careers contributing to the more dependable CPP.”
National Association of Federal Retirees
“Dismantling existing systems and altering our pension system could compromise labour mobility from other provinces, the benefits of risk pooling that comes with a larger pension fund, and investor confidence.”
Calgary Chamber of Commerce
“Many of those risks are that future demographics are not as favourable for Alberta. Migration is tightly connected, at least historically, to things like oil prices. There’s also investment risks — how are the assets going to be used? What are the returns that they will generate? The Canada Pension Plan, because it’s broader and almost entirely national in scope, is much better at diversifying some of those risks.”
Trevor Tombe, University of Calgary
Many pension systems in Western countries are not functioning effectively, leading to a potential crisis of financial security for many retirees around the world.
In France, the government is trying to save its pension system by increasing the retirement age from 62 to 64. In the United States, social security is estimated to run dry by 2034 without substantial reform. While Spain had to bring forward major pension reform in 2011 by raising the retirement age to 67, the country’s pension system has once again come under pressure leading to further reforms to be introduced, including an increase to contribution rates.
Canada is one of the few countries that has a solvent pension plan. The bold reforms and foresight made by Canadian governments over 20 years ago ensured that the CPP would be able to sustain pension payments for millions of people today and tomorrow. The CPP is one of our country’s most significant public policy success stories.
