As retirement anxiety continues to weigh heavily on Canadians, the Canada Pension Plan Investment Board’s (CPPIB) stewardship of the national pension plan is emerging as a stabilizing force — offering reassurance at a time when many fear their savings won’t last.
A recent CPPIB survey found that 59% of Canadians worry they will outlive their savings, a concern most pronounced among those aged 55 to 59. More than half of non-retirees (55%) and two-fifths of retirees (44%) said they do not have a formal retirement plan — figures that have barely changed since last year.
“It’s not surprising that many Canadians remain worried about outliving their savings,” said Michel Leduc, CPPIB’s senior managing director and global head of public affairs and communications. “This concern has been consistent over the past two years and reflects the financial pressures and uncertainties that people are managing every day.”
Leduc said having a clear retirement plan can make a meaningful difference in reducing stress — and that Canadians already have a dependable foundation in the Canada Pension Plan, which provides lifelong, inflation-protected benefits.
Indeed, the numbers underscore that stability, as the CPPIB ended the second quarter of fiscal year 2026 on Sept. 30, 2025, with net assets of $777.5B, up from $731.7B the previous quarter, according to a news release.
Leduc reiterated that Canadians who understand how the CPP works are significantly less anxious about their financial future. The survey results suggested many Canadians share that view, as those who receive or expect to receive CPP benefits reported lower stress about retirement planning (49% versus 39%) and greater confidence that their savings will last (52% versus 44%) compared with those who do not.
He pointed out that the plan’s sustainability is rooted in its design and governance: it is jointly stewarded by federal and provincial finance ministers, supported by regular actuarial reviews, and managed independently of government.
“CPP Investments plays a crucial role in that long-term resilience by professionally managing the CPP fund to maximize returns without undue risk of loss.”
For the quarter, the fund delivered a net return of 5.4%, contributing to a 6.5% net return for the fiscal year to date. Over a 10-year period, CPPIB has generated a net return of 8.8%, and since its inception in 1999, it has produced $539.4B in cumulative net income.
The fund’s net assets as of Sept. 2025 is a reflection of the CPPIB’s focus on broad global diversification across public and private equities, real estate, infrastructure, fixed income, and alternative strategies, said Leduc.
“This global, diversified approach ensures that the fund remains resilient through market cycles, helping to sustain the CPP for both current and future generations. Canadians can be confident that their CPP contributions are managed with the sole objective of securing their retirement — not serving any government agenda — and that the plan is designed to adapt as the economy and workforce evolve.”
The survey also noted 71% of respondents said they are proud that Canada has the CPP, a figure that has risen steadily over the past three years, even amid discussions about Alberta potentially withdrawing from the plan.
“Canadians’ pride in the CPP continues to grow because they see it as a reliable, nationally unifying plan that delivers real value,” Leduc said. “CPP Investments support that trust through transparency, showing Canadians how their contributions are invested globally and how those investments translate into long-term, inflation-protected retirement benefits.”
CPPIB’s educational work alongside the federal government plays an important role in building confidence, said Leduc. “Ongoing communication — combined with consistent performance and prudent management — helps ensure that Canadians continue to view the CPP as a cornerstone of national strength and shared prosperity.”
“We’re committed to making complex financial and investment information easier to understand, through clear reporting, media engagement, and community outreach. By highlighting the CPP’s scale, governance, and independence, we reinforce that this is a plan designed to work for our 22 million contributors and beneficiaries, and for generations to come.”
The fund’s latest results were driven largely by public equities, benefiting from optimism around artificial intelligence, stronger-than-expected corporate earnings and expectations of monetary easing in developed markets. Private-market assets, including credit, private equity, infrastructure and energy, also performed well.
“CPP Investments delivered good results this quarter,” said John Graham, CPPIB’s president and chief executive officer, in the news release, noting it continues to benefit from a diversified approach and from owning high-quality assets around the world.
“At the same time, many markets are pricing assets at robust levels. In this environment, we remain disciplined in line with our purpose to help pay pensions not only today, but for many decades to come, through many different economic cycles.”
