Five of Canada’s largest pension funds earned high marks for their public reporting efforts, according to a new report from Top1000funds.com and CEM Benchmarking Inc.
It ranked pension funds on their costs, governance, performance and responsible investment efforts. Canada’s pension system received an average overall score of 92 out of 100, a one-point increase from 2024.
Among individual funds, Norway’s Government Pension Fund Global took the No. 1 ranking with a perfect score of 100 for the second year in a row, edging out the Canada Pension Plan Investment Board and the Caisse de dépôt et placement du Québec, which ranked No. 2 and No. 3, respectively.
The British Columbia Investment Management Corp. ranked No. 5, while the Ontario Teachers’ Pension Plan and the Public Sector Pension Investment Board made it into the top 15 funds.
Read: Canadian pension funds continue to land top marks for transparency: report
Since the benchmark was launched, Canada and Australia are the two counties that have most improved the transparency of their pension system, the report noted.
It also found 92 per cent of funds have improved their total transparency scores with the top 20 funds improving their scores by an average of 19 points in the past four years. However, average scores for performance and cost disclosures haven’t changed materially since the first edition of the benchmark.
Read: Three Canadian institutional investors earn top marks in responsible disclosure ranking: report