Archives
Returns of Certain Public-Sector Pension Plan Funds in 2017
The Caisse de dépôt et placement du Québec (CDPQ) is responsible for investing the assets of the following 6 funds according to the investment policy for each fund:
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The Government and Public Employees Retirement Plan (RREGOP) Fund;
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The Pension Plan of Management Personnel (PPMP) Fund;
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The Pension Plan of Elected Municipal Officers (PPEMO) Fund;
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The Pension Plan of Peace Officers in Correctional Services (PPPOCS) Fund;
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The Pension Plan for Federal Employees Transferred to Employment with the Gouvernement du Québec (PPFEQ) Fund;
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The Retirement Plan for Active Members of the Centre hospitalier Côte-des-Neiges (RPCHCN) Fund.
Each fund is managed under an investment policy that sets return goals and risk limits. The investment policies of the RREGOP, PPMP, PPEMO and PPPOCS funds are established jointly by the pension committee for each fund and the CDPQ. The investment policies of the PPFEQ Fund and the RPCHCN Fund are established by Retraite Québec.
It is important that the funds be diversified to ensure they comply with the objectives of each investment policy. To that end, the funds' assets are allocated into a number of separate categories, including bonds, publicly traded shares, private equity, infrastructure and real estate.
The choice of asset categories and their weighting in each fund explain the difference in annual returns for the 6 funds.
The changes in assets and the average annual return for various periods are shown below for each of the 6 funds.
The RREGOP Fund
Additional information:
Returns of RREGOP 
The assets of the RREGOP Fund increased from $63.6 billion as at 31 December 2016 to $68.5 billion as at 31 December 2017.
RREGOP Fund — Rates of Return
2017
(1 year) | 2013 to 2017
(5 years) | 2008 to 2017
(10 years) | 1998 to 2017
(20 years) |
|---|
| 9,1% | 10,3% | 5,7% | 6,7% |
The PPMP Fund
The assets of the PPMP Fund decreased from $11.0 billion as at 31 December 2016 to $6.9 billion as at 31 December 2017. This decrease is due to $5.1 billion being transferred to the pension plans sinking fund on 1 June 2017. That transfer was made in accordance with the Act to foster the financial health and sustainability of the Pension Plan of Management Personnel and to amend various legislative provisions (S.Q. 2017, chapter 7). It reflects the fact that the government has started handling certain benefits that were previously payable out of the PPMP Fund.
PPMP Fund — Rates of Return
2017
(1 year) | 2013 to 2017
(5 years) | 2008 to 2017
(10 years) | 1998 to 2017
(20 years) |
|---|
| 8,5% | 9,8% | 5,6% | 6,6% |
The PPEMO Fund
The assets of the PPEMO Fund increased from $245.2 million as at 31 December 2016 to $263.3 million as at 31 December 2017.
PPEMO Fund — Rates of Return
2017
(1 year) | 2013 to 2017
(5 years) | 2008 to 2017
(10 years) | 1998 to 2017
(20 years) |
|---|
| 9,2% | 10,5% | 5,8% | 6,9% |
The PPPOCS Fund
The assets of the PPPOCS Fund increased from $603.1 million as at 31 December 2016 to $643.2 million as at 31 December 2017.
PPPOCS Fund — Rates of Return *
| 2017 (1 year) | July 2013 to 2017 |
|---|
| 9,1% | 10,3% |
* The PPPOCS Fund was created in July 2013.
The PPFEQ Fund
The assets of the PPFEQ Fund increased from $249.7 million as at 31 December 2016 to $261.7 million as at 31 December 2017.
PPFEQ Fund — Rates of Return
2017
(1 year) | 2013 to 2017
(5 years) | 2008 to 2017
(10 years) | 1998 to 2017
(20 years) |
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| 8,5% | 9,8% | 5,4% | 6,6% |
The RPCHCN Fund
The assets of the RPCHCN Fund increased from $84.0 million as at 31 December 2016 to $87.8 million as at 31 December 2017.
RPCHCN Fund — Rates of Return
2017
(1 year) | 2013 to 2017
(5 years) | 2008 to 2017
(10 years) | 1998 to 2017
(20 years) |
|---|
| 6,4% | 8,3% | 4,8% | 6,2% |