April 2026

The Welfare Effects of Protecting Older Workers

By Todd Morris, Stefan Staubli & Benoit Dostie We evaluate the welfare effects of five provincial mandatory retirement bans in Canada from 2005 to 2009 using linked employer-employee tax data. The bans sharply reduce retirements at age 65, with sizable announcement effects and heterogeneity across industries. Post-65 employment and earnings rise at least 14%, with gains comparable to a two-year increase in pension-eligibility ages. Older workers save more and spouses postpone retirement, benefiting public finances, with no observable effects on...

Canada. Thousands of federal workers seek early retirement

About 4,600 federal public servants have applied for an early retirement package since the application window opened last month, as the Canadian government moves to reduce the size of its workforce by 2029, according to a government official. Mohammad Kamal, director of communications for Treasury Board president Shafqat Ali, told CTV News Ottawa on Wednesday that applications have been coming in since the process opened on March 27. Public servants have until July 24 to apply for the Early Retirement...

AI gaining foothold with younger savings plan members, email remains preferred communications tool: survey

More than half (56 per cent) of plan members say email is the most effective way to communicate with them about their savings plans, according to Benefits Canada’s 2026 Employee Savings Survey. The survey, which polled 500 Canadian plan members, found traditional mail (18 per cent) was a distant second preferred communications tool, followed by an insurance company website (17 per cent) and a financial advisor meeting arranged by an insurance company (14 per cent). During a webinar discussing the survey’s results, Jimmy...

March 2026

Canada’s largest pension funds joining Australian peers to increase investments in both countries

Canada’s largest pension funds are joining an initiative that aims to boost pension investments between Canada and Australia. The Canadian-Australian Pension Funds Investment Initiative, announced Wednesday during Prime Minister Mark Carney’s visit to Australia, will create a framework for pension funds in the two countries to discuss policy barriers and associated solutions to improve the current business environment. The agreement includes participation from the Alberta Investment Management Corp., the British Columbia Investment Management Corp., the Caisse de dépôt et placement du...

February 2026

Canada. Pension giant taps Peru power play in US$3.4 billion deal

Peru’s push to modernize its power system is pulling in fresh Canadian pension money, with CPP Investments backing a US$3.4bn infrastructure bet tied directly to the country’s energy transition and mining economy. Canada Pension Plan Investment Board’s investment arm has agreed to acquire a 50 percent stake in Lima-based Inkia Energy alongside Miami-based infrastructure manager I Squared Capital, in a deal that values the company at US$3.4bn including debt. Inkia operates a 2.6GW generation portfolio through Kallpa Generación S.A. and Orazul Energy Peru S.A., supplying power to Peru’s mining-driven economy and positioning the platform...

Canada’s second-largest pension fund axes future DP World deals over Epstein revelations

Canada’s second-largest pension fund is suspending future investment plans with Dubai logistics giant DP World over ties between its CEO and Jeffrey Epstein, Bloomberg reported. A spokesperson for Caisse de Depot et Placement du Quebec said in a statement: “We have made it clear to the company that we expect it to shed light on the situation and take the necessary actions. Until then, we are pausing additional capital deployment alongside the company.” It follows revelations that Sultan Ahmed bin Sulayem,...

January 2026

Canadian pensions diverging in climate approach: report

An advocacy group says there’s an increasing divergence on how big public pensions in Canada are approaching climate action. The group, called Shift: Action for Pension Wealth and Planet Health, says in its annual ranking that La Caisse is showing the best results yet while CPPIB is falling behind. Shift says it lowered CPPIB’s ranking because the pension giant removed its stated net-zero goal, has a lack of clarity on a climate strategy and continues to invest in fossil fuels. CPPIB, which...

Canada Pension Plan’s investment arm criticized over funding for Elon Musk’s xAI, maker of Grok

The Canada Pension Plan Investment Board (CPPIB) is facing criticism for having provided $300 million US for the funding of infrastructure for Elon Musk's xAI, the company behind the controversial Grok artificial intelligence chatbot tool. Musk's xAI has been at the centre of controversy in recent months, after it was discovered that Grok made it possible for people to create sexualized and nonconsensual images of others — including minors. Amid widespread backlash, xAI put some restrictions in place on the...

After FTX collapse, Canada’s pension giants swore off crypto — until now when they quietly started circling back

When the Ontario Teachers’ Pension Plan (OTPP) and Caisse de dépôt et placement du Québec (CDPQ) wrote down their multimillion-dollar stakes in the failed FTX exchange in 2022 (1), it marked a turning point in Canadian institutional investing (2). For most pension executives, the message was clear: Stay far away from crypto. Yet three years later, the tone is shifting. The world’s largest institutional investors — from BlackRock to Singapore’s GIC — are increasing exposure to tokenized assets and digital...

November 2025

Canada. We’re not ready for an aging population — and it’s going to cost us

If there’s a single word that defines the Carney government’s first budget, it has to be “generational.” Canada, we’re told, is facing a “generational” shift, one that requires a “generational” investment strategy featuring “generational” investments. But while the word itself appears 45 times in the nearly 500 page document, it’s never actually used to directly address the true generational challenge we face: a rapidly aging population. This was, and is, a huge missed opportunity. The public is more attuned than...