'Buy Canada' pressure builds on $2.3 trillion in pension plan cash

United States President Donald Trump’s back-and-forth tariff threats are galvanizing an “invest in Canada” movement that’s prodding pensions to keep more of their cash at home.

The country’s biggest pensions, known as the Maple Eight, oversee roughly $2.3 trillion, about a quarter of which is invested in Canada, according to Bloomberg calculations. Many Canadian politicians and business people aim to make that portion grow much larger — putting further pressure on the country’s pension model.

For decades, Canada’s revolutionary pension model has won worldwide acclaim for its independent governance, in-house management and sophisticated staff that can spot investments that will pay off for workers in the long run. The well-heeled executives of its top pension managers have scoured the globe looking for these lucrative private bets and setting an example for other nations.

Critics now contend the pensions haven’t put nearly enough money in the country, especially since Trump started threatening steep tariffs. While the president has eased a 25 per cent levy imposed this month, Canadians are primed to back the country’s economy and especially loath to support U.S. firms.

The “invest in Canada” movement had been gaining momentum before the tariffs, with a National Post op-ed contending last month that Canada should marshal its pension resources to fund the military.

“This will strengthen Canada in the face of Trump and helps our military,” retired Canadian Forces Honorary Colonel Kevin Reed, who co-wrote the op-ed, said in an interview.

Key members of the Canadian government — which historically hasn’t interfered with pensions — said they want them to allot more of their capital to boost Canada as it struggles with sluggish