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Annual Reports

By the end of June each year, after it's reviewed and signed by the Auditor General of Alberta, we publish an annual report on the Plan which includes audited financial statements of the previous year's activities. The Highlights and Management Discussion and Analysis (MD&A) which follow are updated to the newest report by the end of each July.

Previous annual reports can be found below through the blue dropdown button. Note: The 2021 Annual Report in the dropdown will be updated to include the MD&A (after approval by the Auditor General) that was previously only available on this page.


Message from the Board Chair

2023 was a year of change, transition, and growth both for LAPP Corporation and for our members and employers.

Message from the CEO

It is an honour to write to you today as I reflect on my first year as President and CEO of LAPP Corporation. Since my first day, I have been grateful to know I am a part of an incredible pension plan that serves over 300,000 Albertans and provides them with a secure retirement income for life.


Management Discussion and Analysis

Although 2023 was a year marked by economic turbulence and uncertainty around the world, it also served as a catalyst for growth and transformation for LAPP.

Canada’s defined benefit pension plans continued to stand as pillars of financial security and stability for retirees across the nation. LAPP held true to its long-term vision to be Canada’s leading pension plan helping members achieve their retirement goals.

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Investment Summary – Plan Performance

In its role as the Administrator of the Plan and Trustee of the Fund, LAPP Corporation develops and maintains an investment policy documented in the Statement of Investment Policies and Procedures (SIPP).

The SIPP establishes investment principles, policy guidelines, and approaches to management of the Plan’s investment assets. Reviewed at least on an annual basis by the LAPP Corporation Board of Directors, the SIPP sets out the Plan’s asset mix, providing a blueprint for the structure of the Plan’s long-term investment strategy.

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Investment Summary – Performance By Asset Class

LAPP’s total portfolio of assets is segmented into four general asset class categories: Fixed Income, Inflation Sensitive and Alternatives, Public Equities, and Private Equities. The returns of each asset class category and its underlying asset classes contribute to the overall return of the Fund — a table with return details on each asset class category and each individual asset class, as well as additional commentary, follows below.

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Card Titled Your Plan is in Good Hands

In This Section

Read all about the governance, oversight, and operational functions that ensure your LAPP pension is on track.

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Card Titled Your Plan has Value

In This Section

Gain valuable information on how your pension will help support you in retirement.

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Card titled Your Pension is Secure

In This Section

Learn how the LAPP pension fund is professionally managed to provide you with a secure retirement income.

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