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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.
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 |
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 |