Minister of Finance Announces Appointment of New Chair of the Canada Pension Plan Investment Board
Minister congratulates Heather Munroe-Blum on her appointment
June 24, 2014 – Ottawa, Ontario -Department of Finance
Finance Minister Joe Oliver today announced the appointment of Heather Munroe-Blum as Chair of the Canada Pension Plan Investment Board (CPPIB), effective October 27, 2014. Dr. Munroe-Blum has served on the Board of Directors of the CPPIB since 2011. Her appointment as Chair is for a three-year term ending on October 26, 2017.
Dr. Munroe-Blum became the first woman to serve as Principal and Vice-Chancellor (President) of McGill University in 2003. She is a professor at McGill’s Faculty of Medicine and Principal Emerita, and is returning from a leave at Stanford University’s Center for Advanced Studies in the Behavioral Sciences.
Quick Facts
- The CPPIB is a professional investment management organization that invests the assets of the Canada Pension Plan (CPP) not currently needed to pay pension, disability and survivor benefits.
- The CPP Fund ended its fiscal year on March 31, 2014, with net assets of $219.1 billion, compared with $183.3 billion at the end of the 2013 fiscal year. The portfolio delivered a gross investment return of 16.5 per cent for fiscal year 2014.
- In the most recent triennial review released in December 2013, the Chief Actuary of Canada reaffirmed that, as of December 2012, the CPP remains sustainable at the current contribution rate of 9.9 per cent throughout the 75-year period of his report.
Quotes
“Heather Munroe-Blum’s extensive management expertise, deep strategic thinking and proven innovative skill are attributes sought in the thorough recruitment process for a new CPPIB Chair. I congratulate Dr. Munroe-Blum on her appointment and am confident she will provide highly competent leadership to this important organization. I wish to thank Robert Astley, who is Chair until October, for his contributions on behalf of 18 million Canadians who build their financial security in retirement upon the Canada Pension Plan.”
– Joe Oliver, Minister of Finance
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Media Contacts
Melissa Lantsman
Director of Communications
Office of the Minister of Finance
613-996-7861
Jack Aubry
Media Relations
Department of Finance
613-996-8080
