TD Bank Pension Plan

TD Bank Pension Plan

The TD Bank Pension Plan comprises the retirement programs TD Bank Group sponsors for its employees in Canada, the United States, and the United Kingdom. Canadian employees hired on or before December 31, 2018, participate in a defined benefit plan. Later hires enroll in a defined contribution plan where TD contributes 3–4% of eligible earnings and matches employee contributions up to 5%. The firm also offers a 401(k) in the U.S. and a Group Personal Pension Plan in the U.K. The plan's investible assets are allocated across real estate, infrastructure, and private equity. TD Greystone Managed Investments, acquired by TD Bank Group in 2018, serves as the dedicated manager for the real estate and infrastructure sleeve. Confirmed positions include the TD Greystone Real Estate Strategy, a mixed-use portfolio concentrated in Canada, and a net-zero industrial building in Halifax, Nova Scotia. The mortgage exposure runs through the TD Greystone Mortgage Fund, with the plan also holding gold and silver certificates. The asset mix spans direct property, fund commitments, and physical commodities. The plan operates as a captive corporate pension, with all investment management delegated to TD Greystone. TD Greystone, a subsidiary of the bank, manages the plan's real assets from Toronto. Other group-level initiatives that sit alongside the pension—though not within it—include the TD Ready Commitment and the TD Friends of the Environment Foundation, both corporate citizenship platforms. No publicly reported total AUM or deployment figure is available for the plan. The structure is a classic single-sponsor corporate pension plan, but its direct real-asset ownership—including a net-zero industrial property—marks a growing design choice among Canadian banks to hold hard assets directly inside the retirement vehicle, rather than solely through external fund commitments.