Canadian Life & Health Insurance Facts // 2024 Edition 21
Retirement Solutions
L I N E S O F B U S I N E S S
Insurers manage fourteen per cent of Canada's private pension assets
Insurers managed $382 billion of the $2.8 trillion in total private pension assets in Canada
in 2022. This includes assets in nearly 15,000 private employer-based plans that provide
retirement protection for 3.1 million people.*
or 29% is managed by life insurers,
accounting for 70% of private pension
plans, primarily for small-to medium-
sized businesses
or 9% is
managed by
life insurers
Canada's total private pension assets
*According to Statistics Canada Pension Satellite Account, 2022; and TFSA data from Canada Revenue Agency.
$
203
$
179
Employer-
based plans
$704 billion
Individually
owned plans
RRSPs, TFSAs, etc.
$
2,050 billion
billion
billion
