Retirement solutions
Insurers manage eight per cent of Canada's
pension assets
Insurers manage $418 billion of the $5.4 trillion in total pension assets in Canada
in 2021. This includes assets in nearly 15,000 private employer-based plans that
provide retirement protection for 3.1 million people.*
Canada's total pension assets
$
224
billion
$
813 billion
$
194
billion
$
2,182 billion
of which is managed by life insurers,
accounting for 70% of private pension plans,
primarily for small-to medium-sized businesses
is managed by life
insurers
Private
Employer-based
plans
Personal
RRSPs, TFSAs, etc.
$
661 billion +
$
1,728 billion =
$
2,389 billion
Public pensions
CPP/QPP + government employees* *
*According to Statistics Canada Pension Satellite Account, 2021; and TFSA data from Investor
Economics, a division of ISS Market Intelligence. Data excludes unfunded liabilities for public Old Age
Security of about $1.6 trillion
**This includes employees at all levels of government
18
Canadian Life & Health Insurance Facts // 2023 Edition
