The CPP fund, which includes investment earnings and CPP contributions not needed to pay current pensions, grew by $4.7 billion to $103.3 billion during the quarter ending Sept. 30, 2006.

For the quarter, the CPP fund experienced an investment rate of return of 3.9%, or an increase of $3.9 billion, while the fund added $0.8 billion from CPP contributions not needed to pay current pensions. The result is a $4.7 billion overall increase in the CPP fund since June 2006.

For the first half of the fiscal year, the CPP fund experienced an investment rate of return of 1.3%, or $1.4 billion, while the fund added $3.9 billion from CPP contributions not needed to pay current pensions. The result is a $5.3 billion overall increase in the CPP fund from April 1, 2006 to Sept. 30, 2006.

“In surpassing $100 billion in assets, we mark a milestone in the growth and evolution of the CPP fund,” said David Denison, president and CEO, CPP Investment Board. “Within the next decade, the Chief Actuary of Canada estimates that the CPP fund will grow to $250 billion, making it one of the largest single purpose pools of investment capital in the world.”

At September 30, 2006, the CPP fund consisted of equities-63.7% ($65.9 billion), of which public equities made up 58.3% ($60.3 billion) and private equities 5.4% ($5.6 billion); bonds-24.9% ($25.6 billion); inflation-sensitive assets-9.7% ($10 billion); and cash and cash equivalents-1.7% ($1.8 billion).

CPP contributions are expected to exceed annual benefits paid until 2022, providing a 16-year period before a portion of the investment income is needed to help pay CPP benefits.