CPP Investments has once again earned global recognition for leadership in pension fund transparency, reflecting its belief that openness and accountability build trust and strengthen long-term performance.
In the newly released 2025 Global Pension Transparency Benchmark (GPTB), CPP Investments earned a score of 97 — up one point from 2024 — ranking second globally behind only Norway’s Government Pension Fund Global.
Canada’s leader for years
This marks the fifth consecutive year CPP Investments has been recognized as Canada’s top-ranked pension fund for transparency, maintaining its leadership position since the benchmark’s inception in 2021.
“In Canada, there’s often a sense of ‘What’s CPP Investments doing? If CPPIB is doing it, we’d better follow,’” said Edsart Heuberger, Product Manager at CEM Benchmarking, the Toronto-based firm that co-develops the Global Pension Transparency Benchmark. He noted that Canada continues to lead all countries reviewed in pension fund transparency, in part due to CPP Investments’ influence.
Measuring what matters
The GPTB evaluates the public disclosures of 75 pension funds across 15 countries, focusing on the five largest in each market. Funds are assessed across four categories: governance and organization, performance, costs, and responsible investing. Each category is evaluated for clarity, completeness, comparability, and overall information value.
CPP Investments’ strong 2025 result was driven by a perfect score of 100 in governance, along with scores in the high 90s for both performance and responsible investing. This reflects the quality of disclosures on board structure and oversight, investment strategy, and the integration of environmental, social, and governance factors in decision-making.
“Transparency goes beyond disclosure, it’s about providing the right information clearly so that stakeholders are better informed and more confident in the Fund’s strategy,” says Michel Leduc, Senior Managing Director and Global Head of Public Affairs and Communications.
Transparency strengthens trust
At CPP Investments, transparency is a way of working — built into how the organization communicates, reports, and engages with Canadians. By designing information for clarity and accessibility, CPP Investments strengthens public trust and reinforces confidence in the CPP’s long-term sustainability.
Since the GPTB launched five years ago, CPP Investments’ score has improved by 16 points, reflecting sustained efforts to enhance openness and accountability across all major areas of fund management.
Its approach to assembling, designing, disseminating, and engaging on strategy, risk, asset allocation, costs, and climate-related issues stands out as a leading example of accessible financial disclosure.
Looking ahead, the organization aim to continue building on this foundation — evolving with stakeholder expectations while delivering long-term value for generations of Canadians.
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