Research also shows decline in retirees' optimism that they have enough money
Despite some calling for the Canadian Pension Plan Investment Board (CPPIB) to support a ‘Buy Canada’ agenda and focus more on investing in domestic projects, Canadians still want the best returns.
With exposure to the US growing to 47% of its $714 billion total portfolio according to its annual report released earlier this year, CPPIB has increased this significantly from 36% in 2023.
But while CEO John Graham suggested that allocations to Canadian projects could be increased in the years ahead, a new survey reveals that patriotic Canadians want returns over patriotism, even though more than one-quarter (28%) believe the fund should have more of a Canadian focus.
The Angus Reid Institute poll found that, even though just 12% of CPPIB assets are invested domestically, 72% of respondents say fiduciary obligations are the most important thing.
This view is relatively consistent across household income bands, ranging from 67% of those with less than $50K per year and 73% of those with incomes of $100K or more, to 76% of those in the mid-range of $50K-$99K. It’s also broadly the same across age groups (roughly seven in ten) but lower among the 18-24 cohort (61%).
The poll also shows a decline in the share of retirees who say they have the money they need in retirement. Ten years ago, 38% said they have enough money to do everything they want, in 2025 it’s just 25%. Slightly fewer (15%) said that making ends meet is a struggle than in 2015 (18%) while the percentage who said they live comfortably but cannot afford luxuries has risen from 44% to 60% over the decade.
Among those who have yet to retire, the proportion saying they expect a challenge in getting by has risen by one-third, from 28 to 38 per cent over the same period.
