Coronavirus is bringing an economic catastrophe around the world. Most businesses, big or small, are experiencing a heavy loss. Millions of people are losing their job. Experts fear that the economic collapse could be worse than the Great Depression time.


As the economy is going downhill, the fate of your retirement pensions should be a concern to you. What will happen to your Canadian Pension Plan (CPP) and other retirement pensions plans? Are these plans going to get affected or remain the same? We think we should clear the air about this issue.


To know the Canadian Pension plan, you need to know how the fund works and how it invests at first-

CPP Investment Board

CPP Investment Board (CPPIB) is one of the biggest pension boards in the world. It manages over C$420 billion in investment assets as of December 31, 2019, for the CPP. It is a massive amount of investment for any pension board. It is investing in bonds, public and private equities, infrastructures, and real estate.


Though coronavirus has a significant effect on business, the future of many of these sectors is not that dismal. Considering the amount of investment, it could assume the retirement pensions may not get affected in the long run.


The real strength of CPPIB is its diverse investment policy. It is protected from oil market crashes or events like this. At the time of the coronavirus crisis, one of the most affected sectors was the fossil fuel industry. Since most of the people are remaining home and most of the flights are off right now, there is an unprecedented drop in fossil fuel use. The damage, though, can’t be fully fathomed as it all depends on how long the corona crisis will last.

Pension Plan is a Future Plan

A pension plan is something that is for the future. The benefit will be given in five, ten, or more years. Now the economic crisis is a present crisis. So, even if the CPPIB investment experiences some loss in the present, it will have plenty of time to shift its investment into more profitable sectors in the future. So when your time comes, it should be able to provide your or others retirement pensions with ease.

Pension Plan is a Future Plan

Save Money during Coronavirus Outbreak

In this coronavirus pandemic, the Canadian government has vowed to help its citizens.

  • You can get financial support from the government through the new Canada Emergency Response Benefit (CERB) if you are quarantined, sick, or unable to work.
  • Many companies are offering help to their clients. So, before making a list of your monthly expenses, you can ask them what options are available for you.
  • For your mortgage, credit cards, or rent, look for the payment option that is the most flexible for you.
  • Since you have to remain home, you can get rid of some subscriptions that you don’t have to use currently.
  • This is not an excellent time for investing your money. But you have to look for the future. Keep looking for the sectors where you can invest safely in this crisis.


The Bottom Line

Many retirement pension services guarantee that the COVID- 19 crisis is not going to affect their retirement pensions plan. Instead of worrying about the pension, they think it is the time to fight together this unprecedented crisis. They are giving priority to keeping their staff safe, like other companies.


When an economic crisis occurs, it affects almost everyone in the country. So, even if it is safe to assume that your retirement plan will be okay, you shouldn’t let your guard off. We don’t know yet how long this crisis will last.


Please don’t go outside if it’s not necessary. We are offering our support either over the phone or via video conference. So stay home and stay safe.

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