CPP Investments is the larger of Canada's two biggest pension investors, with C$793.3 billion at March 31, 2026, versus C$517 billion for La Caisse (formerly CDPQ) at December 31, 2025. CPP Investments has a single return mandate for the Canada Pension Plan; La Caisse has a dual mandate to earn returns for 48 depositors and support Québec's economy. In calendar 2025, La Caisse returned 9.3% and CPP Investments 7.7%.
Answer
CPP Investments is the larger fund: C$793.3 billion at March 31, 2026. La Caisse (formerly CDPQ) had C$517 billion at December 31, 2025, rising to C$552 billion by June 30, 2026. CPP Investments has a single mandate — returns for the Canada Pension Plan. La Caisse has a dual mandate — returns for 48 depositors and support for Québec's economy. In calendar 2025, La Caisse returned 9.3% and CPP Investments 7.7%. Over ten years, CPP Investments leads, 8.8% to 7.2%.
| Side by side | CPP Investments | La Caisse (formerly CDPQ) |
|---|---|---|
| Net assets | C$793.3 billion (Mar. 31, 2026) | C$517 billion (Dec. 31, 2025); C$552 billion (June 30, 2026) |
| Reporting year | Fiscal year to March 31 | Calendar year |
| Latest annual return | 7.8% (FY2026) | 9.3% (2025) |
| Calendar 2025 return | 7.7% | 9.3% |
| Benchmark, latest year | 13.2% | 10.9% |
| 5-year annualized | 6.6% | 6.5% |
| 10-year annualized | 8.8% | 7.2% |
| Mandate | Manage CPP Fund in best interests of 22M+ contributors and beneficiaries | Dual: optimal returns for 48 depositors (6M+ Quebecers) and Québec economic development |
| Home-market assets | C$119.2 billion in Canada | C$100.1 billion in Québec |
| CEO | John Graham | Charles Emond |
Sources: CPP Investments, "CPP Investments net assets total $793.3 billion at 2026 fiscal year-end" (May 21, 2026); La Caisse, "La Caisse posted a 9.3% return in 2025 and net assets of $517 billion" (Feb. 25, 2026); Wealth Professional on La Caisse H1 2026 results (Aug. 14, 2026).