Governance, Performance, Costs and Policy Issues: An Analysis of Six Large (Big Six) Public Sector Pension Funds in Canada

53 Pages Posted: 28 Jul 2018

See all articles by Vijay M. Jog

Vijay M. Jog

Carleton University - Eric Sprott School of Business

Date Written: July 7, 2018

Abstract

Across the world, there has been a significant growth in financial assets managed by public sector entities including pension funds of public sector employees. Canada is no exception. The six largest public-sector pension funds in Canada collectively manage/invest approximately one trillion dollar (Canadian) of assets for providing retirement income to the retirees. The paper analyses the both the governance and most importantly, performance and costs of these big six pension funds. We argue that the information provided by these funds require considerable improvement in consistency and depth to evaluate their performance and, thereby, indirectly the associated governance. This is especially important as these funds are increasingly investing in “non-tradeable” and illiquid assets and are also asked and encouraged by their respective governments to invest in “publicly desirable” investments. In addition, their absolute and their relative size of their investments in publicly listed corporations also raises some governance issues.

Keywords: Public Sector Pension Funds, Pension Fund Performance, Pension Fund Governance

JEL Classification: G10, G11, G23, G28

Suggested Citation

Jog, Vijay M., Governance, Performance, Costs and Policy Issues: An Analysis of Six Large (Big Six) Public Sector Pension Funds in Canada (July 7, 2018). Available at SSRN: https://ssrn.com/abstract=3209866 or http://dx.doi.org/10.2139/ssrn.3209866

Vijay M. Jog (Contact Author)

Carleton University - Eric Sprott School of Business ( email )

1125 Colonel By Drive
Ottawa, Ontario K1S SB6
Canada
613-520-2600 (Phone)
613-520-4427 (Fax)

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