The latest TELUS Health Pension Indices for September 2025 bring some encouraging news for pension plan sponsors and administrators. September delivered impressive market-driven gains, with the typical pension plan seeing improved funded status on both solvency and accounting bases. The representative pension plan portfolio achieved a solid 3.9 per cent return for the month, powered by strong performance across equity and bond markets - Canadian equities alone posted a robust 5.1 per cent return, while global developed and emerging markets delivered 5.0 per cent in Canadian dollar terms.
However, while these gains offer much-needed relief, the underlying economic landscape remains complex and uncertain. As Amy Pun, Associate Partner in TELUS Health's Consulting team, notes, "Despite the positive performance, underlying macroeconomic signals remain mixed, with persistent uncertainty clouding the outlook." The ongoing concerns around growth, inflation, and evolving tariff policies continue to create potential risks, including the possibility of stagflation. With solvency and accounting indices improving, now is an opportune time for pension plan administrators to lock in these gains while strengthening their risk management strategies and governance frameworks to navigate the evolving macroeconomic conditions ahead.
Click here to read the September report.