Pension plans in Canada, as of January 1, 2012
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Released: 2013-12-19
Membership in registered pension plans (RPPs) in Canada reached 6,114,600 in 2011, up 49,000 or 0.8% from the same date a year earlier.
Membership in public sector pension plans rose by 0.6% to 3,160,000, while the number of members in private sector plans increased 1.0% to 2,954,700. The public sector accounted for 52% of total membership in RPPs.
The participation of women in RPPs continued its long-term upward trend in 2011. Their membership increased 0.8% to 3,052,800. The number of men participating in these plans saw a similar increase, as membership rose to 3,061,900. In 2011, women represented 62% of membership in the public sector and 37% in the private sector.
Men accounted for 50.1% of total membership in 2011, while the percentage of women was 49.9%. In the early 1970s, men accounted for almost 75% of total membership in RPPs.
The pension coverage rate, that is, the proportion of all employees covered by an RPP, was 38.4% in 2011, down from 38.8% the year before.
More than 4,477,400 employees were in a defined benefit pension plan, down 0.1% from 2010. They accounted for nearly three-quarters (73%) of employees with an RPP, compared with 84% a decade earlier.
Membership in defined contribution plans, the other most frequent type, increased by 3.5% or 34,100 to 1,003,300. These plans accounted for 16.4% of all RPP membership and 85% of members in defined contribution plans worked in the private sector.
Other plans continued their upward trend. In 2011, more than 633,800 employees belonged to these plans, up 3.5% from 2010.
In 2011, total employer and employee contributions to RPPs reached a record high of $58.9 billion. Employer contributions for unfunded liabilities accounted for $11.7 billion of the total, up from $10.8 billion in 2010. Employers and employees contributed 62% and 38%, respectively, when payment for unfunded liabilities are excluded.
The market value of assets in RPPs totalled $1.3 trillion in 2011, up 4.8% from the previous year.
Note to readers
Registered pension plans (RPPs) are established by employers or unions for employees. These data come from the Pension Plans in Canada Survey as of January 1, 2012.
A defined benefit plan defines the benefits to be paid according to a formula stipulated in the plan text. The employer's contributions are not predetermined, but are a function of the cost of providing the promised pension.
A defined contribution plan specifies the contributions made by the employer, as well as by the employee if the plan is contributory. Pension benefits paid are a function of accumulated contributions and investment returns.
Other plans include plans having a hybrid, composite, defined benefit / defined contribution and other component.
Membership is defined as active members of the pension plan currently making contributions to the pension plan or for whom contributions are being made.
Contact information
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