Retirement solutions
Insurers paid out $53.7 billion in retirement
benefits in 2022
Of this, 66 per cent was paid out to group plan members, and 34 per cent to
policyholders of individual plans.
2022 2020 2018 2016 2014 2012
$
50B
$
60B
$
40B
$
30B
$
20B
$
10B
$
33B
$
42B
$
43B
$
49B
$
46B
$
54B
Since 2012, benefits
have increased at an
average rate of
5%
per
year
Canadian Life & Health Insurance Facts // 2023 Edition
17
of benefits are
provided through
segregated funds
Over
80%
