Canadian pension plans' funded status climbs to 112.5% in third quarter, driven by asset gains: Aon
November 04, 2025
The aggregate funded ratio for Canadian pension plans in the S&P/TSX Composite Index increased significantly during the third quarter, according to a new report from Aon.
The Aon’s Pension Risk Tracker, which follows Canadian pension plans in the S&P/TSX Composite Index, pegged their aggregate funded ratio at 112.5% on September 30, 2025, up from 107.8% at the end of the second quarter.
Aon found that pension assets increased 5.4% in the third quarter of the year. Meanwhile, the discount rate used to calculate the solvency ratio increased to 4.62%, up 4 basis points on the previous quarter after an 11 basis point increase to the long-term Government of Canada bond yield being offset by a 7 basis point narrowing in credit spreads.
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