Shift: Action for Pension Wealth and Planet Health has tracked the climate progress of 11 Canadian pension funds in our 2022 and 2023 Canadian Pension Climate Report Cards.

See below for a short description of each pension fund, its beneficiaries and its assets under management, and find a link to the funds’ 2023 Canadian Pension Climate Report Card scores.

Canada Pension Plan Investment Board (CPPIB)

CPPIB is the manager of the Canada Pension Plan (CPP). On behalf of over 21 million Canadians, CPPIB manages one of the largest investment funds in the world. All working and retired Canadian citizens outside of Quebec are members of the CPP.

Assets Under Management (AUM): $590.8 billion (December 31, 2023)

See CPPIB’s score in Shift’s 2023 Canadian Pension Climate Report Card.

Alberta Investment Management Corporation (AIMCo)

AIMCo is the investment manager for Alberta government, endowment, and specialty funds, and for the province’s public pension plans. Those pensions include the Alberta Teachers’ Retirement Fund, Local Authorities Pension Plan, Public Service Pension Plan and pension funds for provincial management employees, judges, and special forces.

Assets Under Management (AUM): $160.6 billion (December 31, 2023)

See AIMCo’s score in Shift’s 2023 Canadian Pension Climate Report Card.

British Columbia Investment Management Corporation (BCI)

BCI is the investment manager for over 725,000 members of British Columbia’s public pension plans, including the Municipal Pension Plan, Public Service Pension Plan, Teachers’ Pension Plan, College Pension Plan, BC Railway Company Pension Plan, WorkSafeBC Pension Plan, BC Hydro Pension Plan and staff and faculty pension plans at the University of Victoria and University of British Columbia. BCI also manages insurance and benefit funds for over 2.5 million workers and retirees in British Columbia.

Assets Under Management (AUM): $233.0 billion (March 31, 2023)

See BCI’s score in Shift’s 2023 Canadian Pension Climate Report Card.

Caisse de dépôt et placement du Québec (CDPQ)

CDPQ is the investment manager for more than 48 client depositors, including public pension funds, insurance plans and other government funds. As of December 31, 2023, over 86% of the CDPQ’s assets under management were pension funds, including the Quebec Pension Plan for 6.4 million contributors and beneficiaries.

Assets Under Management (AUM): $434 billion (December 31, 2023)

See CDPQ’s score in Shift’s 2023 Canadian Pension Climate Report Card.

Healthcare of Ontario Pension Plan (HOOPP)

HOOPP is a defined benefit pension plan for 450,000 Ontario healthcare sector workers and retirees, with over 630 participating employers including hospitals, family health teams, foundations, community health centres and other organizations and service providers.

Assets Under Management (AUM): $112.6 billion (December 31, 2023)

See HOOPP’s score in Shift’s 2023 Canadian Pension Climate Report Card.

Investment Management Corporation of Ontario (IMCO)

IMCO is the investment manager for the Ontario Pension Board (OPB), the administrator of Ontario’s $31 billion Public Service Pension Plan (PSPP). The PSPP is the pension fund for over 93,000 active, retired and former members of the Ontario public service. IMCO’s Ontario public sector clients also include the Provincial Judges’ Pension Board, Wise Trust (the administrator of the Ontario’s Workplace Safety and Insurance Board (WSIB) Employees’ Pension Plan) and the insurance and benefit funds of Ontario’s WSIB. It was announced in December 2023 that IMCO will add four new clients in 2024.

Assets Under Management (AUM): $77.4 billion (December 31, 2023)

See IMCO’s score in Shift’s 2023 Canadian Pension Climate Report Card.

Ontario Municipal Employees Retirement System (OMERS)

OMERS is the investment manager for the pension fund of Ontario’s municipal workers, with 559,000 members and over 1,000 participating employers (ranging from large cities to local agencies). Members include union and non-union employees of municipalities, school boards, transit systems, electrical utilities, emergency services and children’s aid societies.

Assets Under Management (AUM): $128.6 billion (December 31, 2023)

See OMERS’ score in Shift’s 2023 Canadian Pension Climate Report Card.

Ontario Teachers’ Pension Plan

The OTPP is Canada’s largest single-profession pension plan. It administers a defined benefit pension plan for 336,000 active and retired teachers across 170 organizations including public school boards and private schools throughout Ontario.

Assets Under Management (AUM): $247.5 billion (December 31, 2023)

See the OTPP’s score in Shift’s 2023 Canadian Pension Climate Report Card.

OPSEU Pension Trust (OPTrust)

OPTrust is the OPSEU Pension Plan for over 106,000 active and retired Ontario public servants. Most OPTrust members work for the Ontario Public Service, municipal governments and service providers and Ontario’s public college system; members also include OPSEU members who work for private companies or organizations contracted to deliver public services, such as hospitals and medical laboratories. OPTrust is also the manager for retirement savings of employees of non-profit organizations through OPTrust Select.

Assets Under Management (AUM): $25 billion (December 31, 2023)

See OPTrust’s score in Shift’s 2023 Canadian Pension Climate Report Card.

Public Service Pension Investment Board (PSP)

PSP Investments is the pension manager for over 900,000 active and retired employees of Canada’s federal government, including federal public servants, the RCMP, and the Canadian Armed Forces and Reserve Force. PSP Investments (PSP) is a Crown corporation sponsored by the Government of Canada.

Assets Under Management (AUM): $243.7 billion (March 31, 2023)

See PSP’s score in Shift’s 2023 Canadian Pension Climate Report Card.

University Pension Plan (UPP)

UPP is a newly created Ontario pension fund, launched in 2021 and formed from combining the pension funds for faculty and staff at Ontario universities (Queen’s University, University of Toronto and University of Guelph, with Trent University added later) into a multi-university jointly sponsored pension plan. As of December 31, 2023, UPP had 16 participating organizations and over 39,000 members.

Assets Under Management (AUM): $10.8 billion (December 31, 2022)

See UPP’s score in Shift’s 2023 Canadian Pension Climate Report Card.

Not sure which pension plan you belong to?

Check out our resource here to find out.