Returns of Certain Public-Sector Pension Plan Funds in 2025
The Caisse de dépôt et placement du Québec (La Caisse) is responsible for investing the assets of the following six funds according to the investment policy for each fund:
- 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 Pension Plan of Peace Officers in Correctional Services (PPPOCS) Fund
- The Pension Plan for Federal Employees Transferred to Employment with the Gouvernement du Québec (PPFEQ) Fund
- 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 La Caisse. 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 six funds.
The changes in assets and the average annual return for various periods are shown below for each of the six funds.
Pension committee members will discuss the 2025 results in the weeks following their publication. They may issue comments on the matter.
The RREGOP Fund
Additional information: Returns of RREGOP
The assets of the RREGOP Fund increased from $91.4 billion as at 31 December 2024 to $97.9 billion as at 31 December 2025.
| 2025 (1 year) | 2021 to 2025 (5 years) | 2016 to 2025 (10 years) | 2006 to 2025 (20 years) |
|---|---|---|---|
| 9.1% | 5.5% | 6.8% | 6.4% |
The PPMP Fund
The assets of the PPMP Fund increased from $13.0 billion as at 31 December 2024 to $14.4 billion as at 31 December 2025.
| 2025 (1 year) | 2021 to 2025 (5 years) | 2016 to 2025 (10 years) | 2006 to 2025 (20 years) |
|---|---|---|---|
| 9.4% | 5.4% | 6.6% | 6.3% |
The PPEMO Fund
The assets of the PPEMO Fund increased from $377 million as at 31 December 2024 to $403 million as at 31 December 2025.
| 2025 (1 year) | 2021 to 2025 (5 years) | 2016 to 2025 (10 years) | 2006 to 2025 (20 years) |
|---|---|---|---|
| 8.8% | 6.7% | 7.2% | 6.7% |
The PPPOCS Fund
The assets of the PPPOCS Fund increased from $862 million as at 31 December 2024 to $922 million as at 31 December 2025.
| 2025 (1 year) | 2021 to 2025 (5 years) | 2016 to 2025 (10 years) |
|---|---|---|
| 9.2% | 5.7% | 7.1% |
- Note 1 The PPPOCS Fund was created in July 2013. Revenir à la référence
The PPFEQ Fund
The assets of the PPFEQ Fund increased from $287 million as at 31 December 2024 to $295 million as at 31 December 2025.
| 2025 (1 year) | 2021 to 2025 (5 years) | 2016 to 2025 (10 years) | 2006 to 2025 (20 years) |
|---|---|---|---|
| 8.2% | 5.0% | 6.1% | 6.0% |
The RPCHCN Fund
The assets of the RPCHCN Fund increased from $100 million as at 31 December 2024 to $105 million as at 31 December 2025.
| 2025 (1 year) | 2021 to 2025 (5 years) | 2016 to 2025 (10 years) | 2006 to 2025 (20 years) |
|---|---|---|---|
| 6.6% | 3.5% | 4.9% | 5.2% |