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The Fund

Helping create retirement security for generations of Canadians.
2024 ANNUAL REPORT
the Fund Hero Banner (1)

$699.6 Billion

Fund at December 31, 2024

$24.5 Billion

Q3 Fiscal 2025 net increase

3.8%

Q3 Fiscal 2025 net return (nominal)

9.2%

10-year annualized net return (nominal)

$373.8 Billion

Cumulative net income for 10-year period

$487.7 Billion

Cumulative net income since inception in 1999

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
2024¹
2025
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

0

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 Projected and actual assets are as at December 31, 2024.

Global Asset Allocation

56  Countries where we hold investments

As at March 31, 2024

328  Global investment partners

As at March 31, 2024

Canada United States Latin America Europe Asia Pacific
Canada
$73.7B as of December 31, 2024
11% of total assets
Canada
  • Canada
  • United States
  • Latin America
  • Europe
  • Asia Pacific
Canada
$73.7B as of December 31, 2024
11% of total assets

2024 Annual Report

We continue to deliver solid performance for the long term, helping to grow the CPP 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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Sustainable Investing

We believe organizations that have forward-looking sustainability plans are better positioned to create long-term value.

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