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Returns on some Public Sector Pension Plan Funds in 2015
The Caisse de dépôt et placement du Québec (CDPQ) is responsible for the investment of the assets of the 5 following funds based on the investment policy specific to each:
- The Government and Public Employees Retirement Plan (RREGOP) Fund;
- The Pension Plan of Management Personnel (PPMP) Fund;
- The Pension Plan of Elected Municipal Officers (PPEMO) Fund;
- The Special Plans Fund;
- The Retirement Plan for Active Members of the Centre hospitalier Côte-des-Neiges (RPCHCN) Fund.
Each fund is managed under an investment policy which sets return goals and risk limits. The RREGOP, the PPMP and the PPEMO's investment policies are established jointly by the pension committee specific to each fund and the CDPQ. As for the investment policies of the RPCHCN Fund and the Special Plans Fund, consisting mainly of the assets of the Pension Plan for Federal Employees integrated to a function within the Gouvernement du Québec (PPFEQ), it is established by Retraite Québec.
It is important that the funds be diversified so that they comply with the objectives set in each investment policies. That is why the funds' assets are distributed among several distinct categories, particularly bonds, the stock market, private equity, infrastructure and real estate.
The choice of asset categories and their weight in the asset of each fund explains the difference in annual returns that can be observed between the 5 funds.
The evolution of the asset and the average annual return for various periods are shown below for each of the 5 funds.
The RREGOP Fund
Additional information: Returns of RREGOP 
The asset of the RREGOP Fund increased from $55.7 billion as at December 31, 2014 to $59.9 billion as at December 31, 2015.
RREGOP Fund — Rates of Return
2015
(1 year) | 2012 to 2015
(4 years) | 2011 to 2015
(5 years) | 2006 to 2015
(10 years) | 1996 to 2015
(20 years) |
|---|
| 9,0% | 11,1% | 9,6% | 5,9% | 7,3% |
The PPMP Fund
The asset of the PPMP Fund increased from $9.6 billion as at December 31, 2014 to $10.4 billion as at December 31, 2015.
PPMP Fund — Rates of Return
2015
(1 year) | 2012 to 2015
(4 years) | 2011 to 2015
(5 years) | 2006 to 2015
(10 years) | 1996 to 2015
(20 years) |
|---|
| 9,9% | 10,7% | 9,5% | 6,0% | 7,3% |
The PPEMO Fund
The asset of the PPEMO Fund increased from $215.9 million as at December 31, 2014 to $229.5 million as at December 31, 2015.
PPEMO Fund — Rates of Return
2015
(1 year) | 2012 to 2015
(4 years) | 2011 to 2015
(5 years) | 2006 to 2015
(10 years) | 1996 to 2015
(20 years) |
|---|
| 8,9% | 11,3% | 9,6% | 6,1% | 7,5% |
The Special Plans Fund
The asset of the Special Plans Fund increased from $226.5 million as at December 31, 2014 to $240.5 million as at December 31, 2015.
Special Plans Fund — Rates of Return
2015
(1 year) | 2012 to 2015
(4 years) | 2011 to 2015
(5 years) | 2006 to 2015
(10 years) | 1996 to 2015
(20 years) |
|---|
| 9,2% | 10,6% | 9,2% | 5,9% | 7,0% |
The RPCHCN Fund
The asset of the RPCHCN Fund increased from $77.8 million as at December 31, 2014 to $81.7 million as at December 31, 2015.
RPCHCN Fund — Rates of Return
2015
(1 year) | 2012 to 2015
(4 years) | 2011 to 2015
(5 years) | 2006 to 2015
(10 years) | 1996 to 2015
(20 years) |
|---|
| 8,2% | 9,6% | 8,5% | 5,5% | 6,8% |