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Canadian pension landscape
Canada's pension wealth, comprising all three components noted below, reached $3.6 trillion at the end
of 2016 (according to Statistics Canada Pension Satellite Account, 2016). This includes $651 billion in
assets held by about 15,700 private employer-based plans which provide retirement protection for more
than 3 million Canadians.
Innovative solutions
Employers offering DB pensions transferred $3.7 billion of pension risk (longevity and/or
investment) to life insurers in 2017. The trend toward de-risking pension plans is anticipated to
accelerate as employers increasingly reduce risk and focus on their core business.
As older Canadians focus on ensuring that their retirement savings last throughout their lives,
CLHIA is working with governments and other stakeholders to develop rules that permit a wider
range of flexible and secure retirement income options.
-
$25B
$30B
$35B
$40B
$45B
$50B
$45.3B paid out as retirement benefits
Retirement benefits grew at an
average annual rate of 5% over the
past decade
2007 2009 2011 2013 2015 2017
11
Private
(Employer-based plans)
Personal
(RRSPs, TFSAs, etc.)
Public
(CPP/QPP + government employees*)
$651B
$1,151B
$362B + $1,439B = $1,802B
$152 billion of which is managed by
life insurers, accounting for 70% of
private pension plans, primarily for
small- to medium-sized businesses
$137 billion of which is
managed by life insurers
*This includes employees at all levels of government
