1 5
Notes
Lifetime income
benefits
A feature of annuities that
manages the risk of outliving
savings.
Maturity guarantees
An annuity feature to manage
risk of volatile investment
returns.
Pension plan de-risking
Employers may transfer
the investment and survival
risks associated with defined
benefit plan members to
insurers who specialize in
managing these risks.
Accumulation annuities
A flexible and secure
investment vehicle for pension
plans, RRSPs, TFSAs and non-
registered funds during the
savings stage.
Pay-out annuities
This type of annuity can
provide guaranteed income
for life, just like a DB pension.
Only life insurers can
guarantee income for life.
*According to Statistics
Canada Pension Satellite
Account, 2017. Data excludes
unfunded liabilities for public
Old Age Security of about
$1.6 trillion.
Insurers paid out $48.7 billion in
retirement benefits in 2018
Insurers manage $321 billion of
Canada's pension funds
Canada's total pension assets reached $3.8 trillion at the end of
2017. This includes $694 billion in assets held by about 15,400 private
employer-based plans which provide retirement protection for about
3 million Canadians.*
6%
per year
Since 2008,
benefits have increased
at an average rate of
2018 2016 2014 2012 2010 2008
$
50B
$
40B
$
30B
$
20B
$
10B
$
694B
Private
(employer-
based)
$
1,233B
Personal (RRSPs,
TFSAs, etc)
$
1,912B
Public pensions
(CPP/QPP + government
employees)
$172 billion is
managed by life
insurers
$149 billion is
managed by life
insurers
$
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