PSP Investments posts 12.6% return and 8.2% 10-year rate, with assets growing to $299.7 billion
July 15, 2025
The Public Service Pension Investment Board (“PSPIB”) has released its annual report for 2025, highlighting a net return of 12.6% in the last fiscal year.
In the past year, the fund — which manages investments for the pension plans of the federal public service, the Canadian Forces, the RCMP and the Reserve Force — recorded a net income of $33.5 billion, bringing its total net assets to $299.7 billion. The gain also brings the plan’s 10-year annualized rate of return to 8.2%.
In a statement accompanying the results, PSPIB’s President and Chief Executive Officer Deborah Orida noted that PSPIB outperformed its reference portfolio by 1.5%, adding that the fund was well prepared for current market volatility.
“We have ample liquidity to maintain our focus on delivering returns over the long term, and we continue to proactively incorporate potential shifts in global dynamics and economic conditions into our portfolio design process, risk management and investment decisions,” she said.
Other highlights from the report include:
- 31% of PSPIB’s fund is made of real assets (real estate, infrastructure, and natural resources).
- Infrastructure was the PSPIB’s highest performing asset class, delivering a one-year return of 17.8%. Real estate was the lowest performer, with zero net gain year-over-year.
- 40.5% of PSPIB’s assets are in the U.S., while Canada-based assets account for 20%. A further 16.3% are located in Europe.
Click on ‘More Information’ below to review the report:
