Feb 14, 2014
By AM740 Staff
People relying on the Canada Pension plan in retirement can feel secure their cheques will be in the mail. For the first time ever, the Canada Pension Plan fund has topped 200-Billion dollars. The fund increased 8.7 billion dollars in its third quarter that ended December 31st. The CEO of the Canada Pension Plan Investment Board says while it had one of its best quarters ever, he prefers to focus on longer-term returns. Mark Wiseman says gains were due to the exceptional performance of public equities but that all other asset groups also performed strongly. The chief actuary of Canada has calculated that the CPP is sustainable at its current contribution rate for the next 75 years as long as it earns an average annual return of 4 per cent after inflation.