The Fund

Helping create retirement security for generations of Canadians.

2025 ANNUAL REPORT

Financial Sustainability of the Fund

The most recent triennial report by the Chief Actuary of Canada confirmed that the CPP is financially sustainable for the next 75 years.

Projected Assets

Actual Assets

$ Billions, as at Dec 31

2022

2023

2024

2025¹

2026

2027

2028

2029

2030

2031

2032

2033

2034

2035

2036

2037

2038

2039

2040

2041

2042

2043

2044

2045

2046

2047

2048

2049

2050

4,000

3,500

3,000

2,500

2,000

1,500

1,000

500

Projections of the Fund, being the combined assets of the base and additional CPP accounts, are based on the nominal projections from the 31st Actuarial Report on the Canada Pension Plan as at December 31, 2021.
¹ Actual assets are as at March 31, 2025.

Global Asset Allocation

55 Countries where we hold investments

As at March 31, 2025

341 Global investment partners

As at March 31, 2025

Canada United States Latin America Europe Asia Pacific

2025 Annual Report

We continue to deliver solid performance for the long term, helping to grow the Fund and build a foundation for Canadians’ retirement security.

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Results & Reports

Financial Results

We actively buy and sell public and private investments to build a globally diverse portfolio that maximizes long-term returns.

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Actuarial Reports on the Canada Pension Plan

Actuarial Reports are prepared every three years for the purpose of the financial state review by the federal Minister of Finance and the provincial Ministers of Finance.

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Special Examination Reports

Special Examination Reports express an opinion on the financial and management control, and information systems and management practices maintained by CPP Investments.

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How We Invest

We pursue the best investment opportunities, wherever they are, to ensure the Fund grows for Canadians over the long term.

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Investment Strategy

We actively buy and sell public and private investments to build a diversified global portfolio that maximizes long-term returns.

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Global Mindset

Our teams, located in global financial hubs, build strong relationships and develop local insights that boost the Fund’s performance.

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Comparative Advantages

As an active investor, we use our size and scale as a competitive edge to prudently grow the Fund over the long term.

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Approach to Sustainability

We integrate sustainability across the entire investment life cycle – from initial diligence until our point of exit.

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Year in Review

The Fund

Active Equities

Capital Markets and Factor Investing

Credit Investments

Private Equity

Real Assets

Integrated Strategies Group

Total Fund Management

Financial Sustainability of the Fund