Statistics Canada has published fourth quarter 2023 figures for Canadian trusteed pension funds, showing a 66.3 per cent increase in net income in the fourth quarter when compared to net income figures from one year earlier.

“Canadian trusteed pension funds posted a net income of $28-billion in the fourth quarter, up 66.3 per cent from $16.8-billion, one year earlier,” they write in the report, Employer pension plans (trusteed pension funds), fourth quarter 2023. “Total revenue increased 32.6 per cent or $13.6-billion from the fourth quarter of 2022 to $55.2-billion in the fourth quarter of 2023.” 

The market value of assets held by Canadian trusteed pension funds reached $2.2-trillion, a year-over-year increase of $95.9-billion or 4.5 per cent, they add.

Of the five largest asset categories which together make up 92.4 per cent of the total market value of assets at the end of the fourth quarter, four increased over the previous year. “The category with the largest dollar increase was bonds (up $52.9-billion or 9.9 per cent), followed by equities (up $26.1-billion or 3.2 per cent), other assets (up $20.1-billion or 13.1 per cent) and infrastructure (up $17.5-billion or 8.7 per cent),” the report states. Only real estate decreased three per cent or $7.9-billion.

The report also notes that the value of assets held by public sector plans rose 3.7 per cent or $64.6-billion over the previous year, reaching $1.8-trillion. Private sector assets increased by $31.3-billion or 7.4 per cent to reach $456.5-billion at the end of the year. “The proportion of total assets of trusteed pension funds held by the public sector fell from 80.2 per cent at the end of 2022 to 79.7 per cent at the end of 2023.”