Alberta’s Heritage Fund reaches new heights
- Posted: July 21, 2025
July 18, 2025 Media inquiries
Alberta’s savings trust fund jumps by $2.8 billion, hitting a record high of $30 billion.
Alberta is growing the Heritage Fund for what matters most – saving for the future to ensure a strong health care system, quality education and the lowest tax environment in Canada. By investing in the Heritage Fund, by 2050 Alberta will be on the path to energize its economy, create new opportunities and fund projects that make life better for all Albertans.
This $2.8-billion contribution marks a new record for the fund and keeps the province on track to reach its goal of $250 billion by 2050. The goal is to grow the fund to the point where, after 2050, Alberta would be able to withdraw some of the income the fund earns each year while still allowing it to grow over time. Those withdrawals could help cover fluctuations in resource revenue, invest in important infrastructure and keep taxes low.
“Alberta is turning resource strength into lasting financial security. By growing the Heritage Fund, we’re strengthening core services like health care and education, while preserving the low-tax Alberta advantage. This $2.8-billion boost to the Heritage Fund is a bold step that sets the province on the path to success and puts Albertans first.”
Danielle Smith, Premier
“This investment is a key step in securing a prosperous future with stable revenues and competitive taxes for Albertans today and tomorrow.”
Nate Horner, President of Treasury Board and Minister of Finance
Alberta’s government recently launched their plan, Renewing the Alberta Heritage Savings Trust Fund: A Roadmap to Securing Alberta’s Future. This plan outlines how Alberta will grow the Heritage Fund to $250 billion by 2050 through strategic investments, global partnerships and strong governance, securing long-term economic growth and stability. These strategic investments will eventually fund the public services and infrastructure vital to supporting the growing province.
Central to the plan is the leadership of the Heritage Fund Opportunities Corporation. The updated corporation will modernize the fund’s management and help Alberta access global investment opportunities to create meaningful wealth and future prosperity. Led by board chair Joe Lougheed, the corporation will strengthen the governance of Heritage Fund assets and support investment decisions independent from government.
“Our role is to ensure the Heritage Fund is managed with the highest standards of governance and independence. By embracing global opportunities and modernizing oversight, we’re safeguarding Alberta’s wealth to deliver steady, long-term prosperity for Alberta’s future generations.”
Joe Lougheed, chair, Heritage Fund Opportunities Corporation
This historic boost to Alberta’s Heritage Fund isn’t just about the numbers – it’s about building a future where families thrive, communities grow and Alberta stays strong no matter what comes next.
Quick facts:
- Alberta’s government invested $2.8 billion from the 2024-25 surplus cash in the Heritage Fund, growing the fund to $30 billion from $27.2 billion in 2024-25.
- This is up from $22.9 billion in 2023-24, the previous fiscal year.
- Alberta’s goal is to grow the fund to $250 billion by 2050.
- Once $250 billion is reached, interest from the fund will help stabilize resource revenue, invest in infrastructure and keep taxes low.
- Since 2019-20, the Heritage Fund has grown more than 84 per cent:
- from $16.3 billion to $30 billion.
- Since 2022-23, the Heritage Fund has grown more than 41.5 per cent:
- from $21.2 billion to $30 billion.
- The board of the Heritage Fund Opportunities Corporation brings together the skills and expertise of Alberta and international leaders in investment management to set Alberta up for long-term success. The current members are:
- Joe Lougheed, board chair, Alberta
- Kate White, director, Alberta
- Jacqueline Curzon, director, Switzerland
- Jouko Karvinen, director, Finland
- Chana Martineau, director, Alberta
- Mary Ritchie, director, Alberta
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