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Some national pension funds operate on a ‘pay as you go’ model, meaning that retiree pensions are primarily funded by current workers. But other national pension plans—including the Canada Pension Plan—operate on a capitalized model, meaning that workers contributions are invested to fund future payouts. Capitalized plans allow for funds to be invested in a wider variety of assets, and can yield much bigger returns, according to research by Patrick Augustin, Associate Professor of Finance at º£½Ç¾«Æ·ºÚÁÏ Desautels. Augustin estimates that if France—which has a pay as you go pension model—had adopted a capitalized model, its pension fund would have more than double the amount of assets it currently does.