How could Canada's pension fund invest more at home? Finance committee chair wants to know

Elizabeth Thompson · CBC News

· Posted: Jun 20, 2025 4:00 AM EDT | Last Updated: 9 minutes ago

Canada Pension Plan managers look the imaginable of hearings by the House of Commons concern committee aft MPs learned that lone a tiny fraction of the nationalist pension plan's billions of dollars of assets are invested successful Canada.

Liberal MP Karina Gould, the recently elected seat of the committee, said it is important for the CPP to beryllium managed efficaciously but she would similar to cognize wherefore the money that provides status benefits for astir Canadians isn't investing much successful the home economy.

"It is concerning," Gould said Thursday.

She said she wants to recognize wherefore truthful small is invested successful Canada and however the nationalist pension money could not lone "bolster the Canadian economy, but besides enactment Canadians and their pensions."

Gould said the committee volition beryllium engaged holding pre-budget consultations and examining Bill C-4, which includes a taxation chopped for Canadians. However, if committee members agree, she said hearings into the Canada Pension Plan could instrumentality spot successful the fall.

"In this economical infinitesimal that we're in, it's truly important that we person an knowing of, you know, wherever our pension funds are investing," Gould said successful an interview. "It's decidedly thing that could beryllium of involvement to the committee."

Gould said committee hearings could besides look astatine the CPP's mandate and whether it should much intimately lucifer the treble ngo of the Caisse de dépôt et placement du Québec — the province's nationalist pension manager that is charged with some making wealth and investing successful Quebec's economical development.

"It's an absorbing question to explore," she said.

Gould's comments travel aft the Canada Pension Plan Investment Board (CPPIB), besides known arsenic CPP Investments, revealed that conscionable 12 per cent of the CPP's assets are invested successful Canada — its lowest level ever. The largest chunk of its $714-billion fund, 47 per cent, is presently invested successful the United States — its highest level ever.

The revelation has raised questions astir whether the CPPIB should beryllium investing much successful Canada portion the state is successful the midst of a commercialized warfare with the U.S.

Those who enactment the precocious level of concern successful the United States by the CPP, including the CPPIB itself, reason the plan's mandate is to marque money. They reason U.S. investments connection much diverseness and higher returns — which assistance guarantee the program volition beryllium capable to wage retired benefits for years to come.

Others, however, question wherefore the program isn't doing much to put successful Canada to make Canadian jobs and infrastructure projects.

They are besides acrophobic astir the plan's vulnerability to the U.S. astatine a clip erstwhile President Donald Trump's medication has made the state a riskier spot to invest.

Like Gould, the NDP's interim person leader and concern professional Don Davies was amazed to larn that the CPP's concern successful Canada had dropped to 12 per cent.

"I deliberation it's alarming. I mean I deliberation it's lone 12 per cent of, you know, specified an incredibly ample money of monies that are paid by Canadian employees and Canadian employers," helium said.

While Davies says the money is good managed, he wants the authorities to reappraisal the CPPIB's mandate.

"I personally deliberation [the mandate] should beryllium expanded to besides see improvement of the Canadian economy," helium said.

"There's nary shortage of projects that volition fortify our system and besides springiness bully returns to workers and employers," Davies said.

"I deliberation Canadians would beryllium amazed to larn that their ain pension monies are being utilized to put successful different countries successful specified a vastly disproportionate mode than successful their ain country."

Davies said helium would invited hearings connected the contented by the concern committee, of which helium is not a member.

The Conservatives person not yet responded to a petition to comment.