Canadian defined benefit pension returns – Q4 2025

Canadian pension plans rode commodity boom amid mixed performance in 2025

Published January 30, 2026 | 2 min read

Canadian pensions rode commodity boom and emerging markets surged to outpace global indices in 2025

7.9% annual return and 0.6% quarterly return

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Including RBC Investor Services’ defined benefit pension clients spanning private and public plans

Q4 2025 Defined Benefit Pension Returns

+0.6%

Total

–0.6%

Canadian fixed income

+6.1%

Canadian equities

+1.4%

Global equities

Please refer to the press release for additional information or contact your RBC Investor Services representative.