What the U.S. 401(k) Changes Could Mean For Canadian Investors

U.S. President Donald Trump recently announced updates to 401(k) retirement accounts, opening the door to alternative investments like private equity and real assets — and, more controversially, digital currencies. While these changes apply to U.S. savers, they highlight a global shift in how retirement systems are thinking about diversification.

For Canadian investors, it raises an important question: could RRSPs and TFSAs follow the same path?

Why This Matters For Canadians

Canada already permits certain alternatives in registered accounts, provided they are defined as “qualified investments”. What’s different about the U.S. shift is the mainstreaming effect: by explicitly expanding the retirement menu, alternatives move from a niche option to an accepted building block.

If Canadian regulators followed suit, it could:

• Lower costs for investors (more streamlined compliance and custody).
• Increase accessibility, bringing alternatives to a broader investor base.
• Accelerate adoption, as real assets become a standard allocation in retirement planning.

The Reaction

Many see this as a recognition that traditional 60/40 stock-bond portfolios aren’t enough. Farmland, infrastructure, and other real assets can offer inflation protection and stability.
Others are uneasy about the inclusion of digital currencies. For investors who value tangible stores of wealth — farmland, silver, gold — the idea of volatile, unbacked digital assets in retirement accounts raises red flags.

“With retirement reform expanding into alternatives — and even digital currencies — the contrast for investors is clear. Real assets like farmland provide tangible, inflation-resistant value at a time when confidence in traditional markets and fiat currencies is wavering.”

For Canadian investors, the good news is that farmland is already RRSP- and TFSA-eligible through structures like open-ended REITs. Our approach is aligned with the policy direction we’re seeing globally: giving investors access to stable, inflation-hedged assets inside registered plans.

While there is no guarantee Canada will mirror the U.S., the conversation is accelerating. If Canada loosens restrictions further, these structures may become even more affordable and accessible to manage, moving farmland exposure from the domain of accredited investors toward the mainstream.

References:

U.S. Department of Labor – Guidance on Private Equity in Defined Contribution Plans
U.S. Chamber of Commerce – Retirement Security and Alternative Investments
Canada Revenue Agency – RRSP Rules
Office of the Superintendent of Financial Institutions (OSFI) – Pension Investment Guidance