20 Canadian Life & Health Insurance Facts // 2021 Edition
Insurers manage 8 per cent of
Canada's pension assets
Insurers held $342 billion of the $4.3 trillion in total
pension assets in Canada in 2020. This includes assets
in 15,400 private employer-based plans that provide
retirement protection for over 3 million people.*
Private
$
747B
Employer-based plans
$185 billion of
which is managed
by life insurers,
accounting for 70% of
private pension plans,
primarily for small-to
medium-sized businesses
Personal
$
1,336B
RRSPs, TFSAs, etc.
$156 billion of which is managed by life insurers
Public
$
503B +
$
1,664B =
$
2167B
CPP/QPP + government employees**
Notes
*According to Statistics
Canada Pension Satellite
Account, 2019. Data excludes
unfunded liabilities for public
Old Age Security of about $1.6
trillion.
**This includes employees at
all levels of government
