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Employer pension plans (trusteed pension funds)

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Fourth quarter 2009 (Previous release)

The market value of employer-sponsored pension funds amounted to $920.4 billion at the end of the fourth quarter, up $22.3 billion (+2.5%) from the previous quarter.

This was the third consecutive quarter of growth in pension fund assets, as they rebounded from significant losses in 2008 and the first quarter of 2009.

The value of these assets in the fourth quarter was 10.9% higher compared with the same quarter of 2008. However, it remained 5.2% below the high of $970.8 billion reached in the second quarter of 2008.

Stocks and equity funds accounted for 33.9% of total pension fund assets at the end of the fourth quarter, while fund assets held in bonds accounted for 35.2%.

Pension fund revenues increased 8.8% to $30.7 billion in the fourth quarter, largely the result of increased investment income and $8.1 billion in profits from the sale of securities.

Although expenditures also increased, rising 14.3% to $14.7 billion, net income was up for a third consecutive quarter to $16.0 billion.

Just over 6.0 million Canadian workers are members of employer pension plans. Of this group, 4.9 million workers are members of trusteed plans. The remaining 1.1 million members with employer pension plans are managed principally by insurance company contracts. Data in this release refer only to trusteed plans and their pension funds.

Available on CANSIM: tables 280-0002 to 280-0004.

Definitions, data sources and methods: survey number 2607.

For more information, or to enquire about the concepts, methods or data quality of this release, contact Client Services (613-951-7355; toll-free 1-888-297-7355; fax: 613-951-3012; income@statcan.gc.ca), Income Statistics Division.

Table 1

Trusteed pension funds, market value of assets by type
  Fourth quarter 2008  Third quarter 2009 Fourth quarter 2009p
  $ millions % of total assets $ millions % of total assets $ millions % of total assets
Total assets 829,620  100.0 898,096  100.0 920,352  100.0
Bonds 309,224 37.3 315,401 35.1 323,579 35.2
Stocks 263,400 31.7 302,597 33.7 312,363 33.9
Mortgages 15,194 1.8 13,627 1.5 13,733 1.5
Real estate 73,360 8.8 72,501 8.1 72,888 7.9
Short term 32,152 3.9 35,439 3.9 36,184 3.9
Other assets 131,765 15.9 153,374 17.1 156,512 17.0
Assets, funds under $10 million 4,525 0.5 5,158 0.6 5,093 0.6
preliminary

Table 2

Trusteed pension funds: Revenue and expenditures
  Third quarter 2009 Fourth quarter 2009p Third quarter to fourth quarter 2009
  $ millions % change
Total revenue 28,232 30,718 8.8
Revenue from contributions 15,063 12,320 -18.2
Investment income 6,735 8,320 23.5
Net profit on sale of securities 5,699 8,092 42.0
Miscellaneous revenue 300 1,605 435.0
Revenue, funds under $10 million 435 381 -12.4
Total expenditures 12,905  14,745  14.3 
Pension payments out of funds 9,750 9,868 1.2
Cost of pensions purchased 38 48 26.3
Cash withdrawals 891 1,836 106.1
Administration costs 676 846 25.1
Net loss on sale of securities 1,019 1,501 47.3
Other expenditures 362 443 22.4
Expenditures, funds under $10 million 169 203 20.1
preliminary