Canadian defined benefit (DB) pension plans in RBC Investor Services’ (RBCIS) client database posted a median return of 6% in the second quarter of 2026, thanks to positive returns from both equity and fixed-income investments. In a release on Thursday, it also reported a 6.4% year-to-date return across DB pension plans in RBC’s custody. The plans’ global equity allocations led all asset classes, with a 15.1% return for the quarter, compared to the MSCI World Index (CAD) at 15.7%. Meanwhile, the MSCI Emerging Markets Index (CAD) returned 26.1%, driven largely by semiconductor production in Taiwan and Korea. A weakening Canadian dollar added further to returns for plans with unhedged U.S. exposure.