CN Pension Plan

CN Pension Plan

The CN Pension Plan was established in 1968 to serve employees and retirees of Canadian National Railway Company. Bruno Roy serves as President and CEO of the CN Investment Division that runs the plan day to day. The plan maintains allocations to Canadian real estate, global infrastructure funds, resource royalties, and an absolute return book that uses external hedge fund managers. It also holds direct stakes in Canadian drilling operations established in 1979 and participates in private equity and debt through holding vehicles. Geographic exposure centers on Canada and extends to global markets through fund commitments. The CN Investment Division employs 91 professionals in Montreal. The plan maintains membership in PIAC, CAASA, and AIMA. It sponsors the CN Employees' and Pensioners' Community Fund, a separate nonprofit established in 1967 that directs grants to Canadian health and community organizations. The plan's structure ties investment decisions directly to the sponsor railway through the in-house division, with oversight of both public market positions and long-term private holdings.