Finance Minister Bill Morneau today announced the appointment of Mary Phibbs to the Board of Directors of the Canada Pension Plan Investment Board (CPPIB).

"The Canada Pension Plan (CPP) has a central role in supporting Canada's overall retirement income system, which helps Canadians achieve their goal of a safer, secure and dignified retirement. Ms. Phibbs' experience will be a valuable asset to the CPPIB as it carries out its important role of investing CPP funds, and I congratulate her on this appointment."

- Bill Morneau, Minister of Finance

• The CPPIB is a professional investment management organization that operates at arm's length from governments to invest the funds of the CPP on behalf of its 19 million Canadian contributors and beneficiaries.

• The CPPIB is recognized internationally as a leading example of sound pension plan management, whose governance model has received wide international recognition, including from the International Monetary Fund, the World Bank, the Organisation for Economic Co-operation and Development, and the United States Congress.

• Over the past 10 years, the CPPIB has delivered a 10-year average net nominal rate of return of 6.8 per cent on existing CPP assets, which is above the 6.0 per cent net nominal rate of return identified by the Chief Actuary to ensure the sustainability of the CPP.

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Associated Links

• Canada Pension Plan Investment Board
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• Strengthened Canada Pension Plan Will Mean a More Secure Retirement and a Better Quality of Life for Middle Class Canadians

Annie Donolo
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