Canadian Life & Health Insurance Facts // 2024 Edition 19
Retirement Solutions
L I N E S O F B U S I N E S S
Growing assets to support retirees
Over the last decade, accumulation annuities* have driven growth in retirement assets held
by insurers - up an average of five per cent annually since 2013.
* Accumulation annuities are a flexible and secure investment vehicle for pension plans, RRSPs, TFSAs and non-registered funds during
the savings stage.
** See "How Insurers Invest."
2013
49%
30%
7%
14%
52%
7%
28%
13%
2015
54%
26%
12%
8%
2017
56%
23%
12%
9%
2019
9%
58%
22%
11%
2021
59%
10%
21%
10%
2023
$
600B
$
500B
$
400B
$
300B
$
200B
$
100B
Individual payout
Group payout
Individual accumulation
Group accumulation
80%
of assets are in the
accumulation stage
– up from 79% a
decade ago
82%
of assets are invested
in segregated funds**
– up from 76% a
decade ago
