Strong Equity Helps Lift CPP

Those Canadians headed for retirement in the coming years might take heart from recent developments regarding the Canada Pension Plan Investment Board.

CPPIB, the country's biggest public pension plan, said it achieved a return of 11.6% on its investments in its latest fiscal year, helped by strong equity markets.

The CPPIB, which manages Canada's national pension fund and invests on behalf of 20 million Canadians, said it ended the year ended March 31 with net assets of $356.1 billion, compared with $316.7 billion a year ago.

The fund has diversified internationally, becoming one of the world's biggest investors in infrastructure and real estate.

It is also a major global investor in equities and bonds, with most of its earnings derived from overseas.