Canadian pension landscape
Canada's pension wealth, including all three components as noted below, reached $3.3 trillion at the end
of 2014 (according to Statistics Canada "Pension Satellite Account, 2014"). This includes $592 billion in
assets held by about 16,500 private employer-based plans which provide retirement protection for more
than 3 million Canadians.
Innovative solutions
Employers offering DB pensions transferred $2.7 billion of pension risk (longevity and investment)
to life insurers in 2015, allowing employers to reduce their risks and focus on their core business.
In addition, life insurers also provided $5 billion of longevity insurance coverage to DB plans.
Pooled Registered Pension Plans (PRPPs) are a new kind of defined contribution pension option
that can provide low-cost retirement savings for employees of small- to medium-sized businesses
and self-employed business owners.
-
$20B
$25B
$30B
$35B
$40B
$45B
$40.9B in retirement benefits
Retirement benefits grew at an
average annual rate of 5% over the
past decade
2005 2007 2009 2011 2013 2015
11
Private
(Employer-based plans)
Personal
(RRSPs, TFSAs, etc.)
Public
(CPP/QPP + government employees*)
$592B
$1,114B
$292B + $1,282B = $1,574B
$131 billion of which is managed
by life insurers, accounting for
70% of small- to medium-sized
plans
$123 billion of which is
managed by life insurers
*This includes employees at all levels of government
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