Change theme
Change theme

Pension Plan

Access reports, bylaws and other documents related to the Bank of Canada Pension Plan.

Pension Plan Annual Report


The Bank of Canada Pension Plan is a defined benefit plan covering over 4,300 members. The Bank is the administrator of the Plan. The Bank’s Pension Plan has strong governance structures in place that promote effective decision making, prudent resource management and regular communication. Our oversight, management and administration frameworks, which include the division of responsibilities among stakeholders, ensure that we fund Plan benefits adequately and manage risks properly.

Pension Committee

Established by the Bank’s Board of Directors to provide strategic direction for the activities and functions of the Plan administrator, the Pension Committee oversees the activities of the other two committees.

Pension Administration Committee

Provides expertise on the administration of the Plan, including communication with members, actuarial reviews, funding and accounting.

Pension Fund Investment Committee

Provides expert advice related to investment of the Fund’s assets, including monitoring investment managers and their performance.

Pension Plan Director

Works closely with the Chair of each committee and with other staff members to develop and implement the governance framework, which includes:

  • the establishment of strategic objectives;
  • the development of clear policies in all aspects of Plan administration;
  • the assessment and monitoring of risks;
  • the establishment and monitoring of performance objectives;
  • the monitoring of compliance with regulations and policies;
  • the conduct of periodic self-assessments of the performance of the Pension Committee.

On this page
Table of contents