Statistics Canada data shows Canadian trusteed pension funds grew 6.2 per cent year over year, driven by gains in bonds, equities, and foreign assets
Canadian trusteed pension funds ended the fourth quarter of 2025 at a total market value of $2.6 trillion. That figure represents a year-over-year increase of $151.9 billion, or 6.2 per cent, according to data released June 17, 2026 by Statistics Canada.
The Statistics Canada report covers the top 250 trusteed pension plans, accounting for approximately 90 per cent of total trusteed pension assets in Canada.
For Canadian plan sponsors, the figures offer a read on the overall health of the trusteed pension system they operate within. Rising asset values generally support improved funding positions for defined benefit plans, easing pressure on contribution rates and solvency requirements.
The data also signals how the broader allocation environment is shifting. Foreign assets now outpace domestic growth and public sector plans continue to widen their lead over private sector counterparts.
Canadian trusteed pension fund asset class performance
Four of the five largest asset categories posted year-over-year gains. Real estate was the only decliner, falling $1.8 billion, or 0.7 per cent. Together, all five categories accounted for 93.4 per cent of total trusteed pension fund assets at the end of the quarter.
Statistics Canada, Q4 2025
Year-over-year change in trusteed pension fund asset classes ($B)
Source: Statistics Canada, Table 11-10-0084-01, released June 17, 2026
Bar widths are proportional to dollar change. Real estate shown in grey to indicate a decline.
Foreign assets outpace domestic holdings
Foreign assets made up the largest share of holdings, reaching $1,313.5 billion — up $79.6 billion, or 6.4 per cent, year over year. Domestic assets totalled $951.1 billion, up $27.8 billion, or 3.0 per cent.
Foreign bonds posted the strongest relative growth at 34.1 per cent. Foreign equities and bonds each added $35.5 billion. Foreign short-term investments rose 77.8 per cent. Foreign infrastructure was the only foreign category to decline, falling $1.3 billion.
Plan sponsors tracking public sector pension fund performance in Canada will note domestic real estate and short-term investments also fell, by $7.2 billion and $5.9 billion respectively.
Public sector growth nearly five times private sector
Public sector plan assets rose $144.9 billion, or 7.2 per cent, to $2.1 trillion. Private sector assets grew by $7.0 billion, or 1.5 per cent, to $460.6 billion. The public sector’s share of total assets rose from 81.6 per cent at end of 2024 to 82.4 per cent at end of 2025.
Net income rises by one-third
Canadian trusteed pension funds posted net income of $45.4 billion in Q4 2025, up 33.6 per cent from $34.0 billion a year earlier. Total revenue for the full year of 2025 grew 19.5 per cent, adding $41.4 billion over the $212.7 billion recorded in 2024. Total expenditures rose just 2.1 per cent over the same period.
For context on Canadian pension fund asset growth trends, BPM’s Q1 2025 coverage shows the consistent upward trajectory across the year. The full dataset is available on the Statistics Canada website.
Additional global context appears in the Thinking Ahead Institute’s Global Pensions Assets Study 2026, which estimated Canadian pension assets at US$3,777 billion at year-end 2025.
