Tuesday, September 28, 2004

Women boost growth of employer-sponsored pension plans

MORE and more women in the paid workforce are being covered by registered pension plans (RPPs) in both the public and private sectors, according to new data. In fact, women accounted for the net increase in the total membership of these plans during 2002.

The number of women belonging to RPPs has grown steadily over the last five years. During 2002, nearly two-thirds of the growth in RPP membership among women occurred in the public sector, where the number of women increased 2.7%, compared with just 1.9% in the private sector.

The number of men belonging to an RPP edged down to 2.96 million in 2002, while the number of women increased to just under 2.57 million.

Men accounted for 57.7% of RPP memberships at the end of 1992, and women 42.3%. By the end of 2002, the proportion of men had declined to 53.6%, while the share of women had increased to 46.4%.

In total, more than 5.52 million workers were covered by 14,376 RPPs at the end of 2002, up 1.0% from a year earlier and the fifth consecutive annual increase.

However, this growth did not keep pace with employment, which increased by about 4% in 2002 in the wake of a robust economy.

RPPs are retirement benefit programs that are provided voluntarily by employers or by unions in both the public and private sectors. At the end of 2002, nearly two in five paid workers were participating in an RPP.

For more information, contact Client Services (613-951-7355), Income Statistics Division.

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© 2004, Statistics Canada.