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Canadian Life & Health Insurance Facts // 2026 Edition 19 Retirement Solutions L I N E S O F B U S I N E S S Over 3M individual plans for retirement RRSPs & TFSAs RRIFs Other Retirement Savings & Income Plans $0B $50B $100B $150B $200B $250B 2020 2025 40% 39% 16% 45% 17% 43% Workplace retirement plans managed by insurers are beneficial to employers and other group sponsors Plans administered by insurers help Canadians build retirement savings through automatic payroll deductions, employer/member contributions, and access to diversified investment options. By pooling assets across plan members, these plans can offer lower costs, professional oversight, and tools to support better financial decision-making. Workplace retirement plans can offer Canadians a key advantage For workplace retirement plans, employees generally own their assets directly. When they leave an employer, they can typically transfer the balance to a personal RRSP or TFSA, a new employer's plan if permitted, or a Registered Retirement Income Fund (RRIF) at retirement. This portability gives employees the ability to consolidate their retirement savings into one place rather than having multiple small accounts that could be harder to track in the future. Insurers offer individual retirement solutions to meet the needs of retiring Canadians Increasing life spans, the trend away from DB pensions and lower and more volatile investment returns make saving for income security throughout retirement a challenge for Canadians. Insurers offer products to convert retirement savings into guaranteed income. Traditional annuity products and other innovative solutions provide an excellent way of meeting retirement needs by managing volatility and longevity risks. Insurers manage over $210B in assets for individual plans

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