Canadian Life & Health Insurance Facts // 2025 Edition 20
Retirement Solutions
L I N E S O F B U S I N E S S
Insurers paid out $71.4 billion in retirement benefits in 2024
Of this, 64 per cent was paid out to group plan members, and 36 per cent to policyholders
of individual plans.
Since 2014, benefits
have increased at an
average rate of
per
year
of benefits are
provided through
segregated funds
6%
74%
2024 2022 2020 2018 2016 2014
$
71
B ILLION
$
54
B ILLION
$
46
B ILLION
$
49
B ILLION
$
43
B ILLION
$
60B
$
70B
$
80B
$
50B
$
30B
$
20B
$
10B
$
40B
$
42
B ILLION
