Millions of Canadians rely on the benefits they receive from the CPP, and many more can rest assured that the CPP Fund we’re helping build will be available for them in retirement.
Whether you choose to retire in B.C. or Ontario, Nova Scotia or Alberta, the CPP stays with you. It’s one of the great safeguards of a national plan. That means regardless of where in Canada you choose to work, live or retire, the CPP is there.
A major source of strength is the CPP Fund’s long-term resilience. Every three years, the Office of the Chief Actuary of Canada, an independent federal body that provides checks and balances on the future costs of the CPP, assesses the state of the plan. The most recent review, completed in December 2022, concluded that the CPP will continue to be sustainable for 75 years and beyond. That’s a long time.
It wasn’t always this way. More than 20 years ago, Canada’s federal and provincial governments came together with a common goal – to create retirement security for future generations of Canadians.
With an initial transfer of $12.1 million from the CPP, the Fund was born. Nearly a quarter-century later, CPP Investments now manages more than $575 billion dollars in the best interests of CPP contributors and beneficiaries. We are always seeking to generate above-market returns by searching the world for the most promising investment opportunities and constructing a broadly diversified, multi-asset class portfolio.
This is pursued through our offices in many global financial centres, which are led by highly skilled professionals guided by world-class governance and risk management practices. Our organization was recently rated as one of the best-performing pension funds in the world over the past decade, according to Global SWF, an international consulting and research firm that tracks industry returns. We are consistently recognized and admired for our measured and prudent approach to investing.
A key element of the Fund’s success is that we operate without any government interference. We report not to the Federal Government alone but as well to all the participating provinces. This protects our ability to make decisions free from political agenda, strengthening the integrity of our decision-making process. Through years of government mandates, as well as wide-ranging political, social and economic cycles, CPP Investments has stayed the course. We are steadily growing, diversifying and helping build a solid source of retirement security to last for generations.
In an era of uncertainty, Canadians can find confidence in a strong, stable and resilient CPP Fund. Economic and political winds may change, yet we remain rooted, drawing strength from our guiding principles of integrity, partnership and high performance. More than 21 million contributors and beneficiaries, like you, are counting on us to deliver. Thank you for trusting us.
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