How Are Canadian Pension Funds Invested?

Photo: Indigenous leaders, climate-concerned Canadians and Shift staff outside the CPPIB’s public meeting in Ottawa on October 8th, 2026. Credit: Nathalie Hewa Dewage / Canada’s National Observer.

Hundreds of Canadians turned up to the Canada Pension Plan Investment Board’s (CPPIB) public meetings across the country this past October to ask how their retirement savings are being invested. But despite people lining up at the microphones, many were left without enough time to ask the questions they came to ask, while others reported being “stonewalled” or receiving evasive, vapid responses.

These meetings are one of the few opportunities Canadians have to question the investment manager overseeing our national pension fund. The meetings are required by law to give interested persons an opportunity to comment on the Canada Pension Plan’s performance. Yet too many people left either without answers, or perplexed by CPPIB’s growing fossil fuel holdings, casual approach to worsening systemic climate risks, and flawed understanding of the energy transition.

The meetings raised serious questions about how CPPIB is managing our retirement savings – from its more than $31 billion in fossil fuel investments to its lack of progress on Indigenous rights protections.

Ahead of the public meetings, over 8,000 Canadians signed our petition demanding action from CPPIB. At the Ottawa meeting, we delivered those signatures and called on Canada’s pension manager to adopt a credible climate plan, stop financing fossil fuel expansion, and respect Indigenous rights – essential steps to protecting our retirement security in a changing climate.

Read key takeaways from the October public meetings – and what they reveal about the decisions CPPIB is making with our money.

Canadians deserve more than a box-ticking exercise. We deserve meaningful opportunities to be heard – and clear answers about how our retirement savings are being managed.

Now, there’s another opportunity to demand answers.

On November 19, CPPIB will hold a virtual public meeting. CPP contributors and beneficiaries across Canada can submit questions directly to CPPIB leadership. Submit your questions today and help demand transparency, accountability, and responsible management of our retirement savings.