Household and family assets, debts and wealth
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- Stats in brief: 11-631-X2024002Description: The following presentation uses recently disaggregated macroeconomic accounts data to explore the contribution of housing to the accumulation of wealth and debt for Canadian families.Release date: 2024-02-28
- Articles and reports: 75-006-X201900100010Description:
This study uses data from the 2016 Survey of Financial Security to examine financial distress indicators for Canadian families. Three financial distress indicators are examined: the proportion of Canadian families who skipped or delayed a mortgage payment, the proportion who skipped or delayed a non-mortgage payment and the proportion who borrowed money through a payday loan. This paper also examines the factors associated with financial distress among Canadians, with a particular focus on their debt level.
Release date: 2019-06-26 - 3. The Wealth of Immigrant Families in Canada ArchivedArticles and reports: 11F0019M2019010Description:
While several studies have documented the evolution of the earnings of immigrants in Canada over the last three decades, the evolution of immigrants’ wealth has received relatively little attention. Using data from the Survey of Financial Security of 1999, 2005, 2012 and 2016, this study fills this gap. The study uncovers several key patterns.
Release date: 2019-04-16 - 4. Financial Expectations and Household Debt ArchivedArticles and reports: 11-626-X2019005Description:
This Economic Insights article quantifies the degree to which families who expect their financial situation to get better in the next two years have, all else equal, more debt than comparable families. The data are drawn from the Survey of Financial Security for 1999, 2005 and 2016. The term “family” is used to refer to family units and includes economic families and unattached individuals. Debt and income estimates are shown in 2016 dollars. The study shows that even after a large set of socioeconomic characteristics is controlled for, families who expect their financial situation to improve in the near future have significantly more debt and generally higher debt-to-income ratios than other families.
Release date: 2019-04-04 - Articles and reports: 75-006-X201500114134Description:
This study compares the wealth holdings of family units covered by workplace pension plans with those of other family units. It focuses on families and unattached individuals who had no significant business equity and whose major income recipient was aged 30 to 54 and employed as a paid worker. The paper also examines whether wealth differences observed between families with registered pension plan (RPP) assets and other families persist when key sociodemographic differences between the two populations are taken into account.
Release date: 2015-01-15 - Articles and reports: 11F0027M2014094Geography: CanadaDescription:
This report compares household net worth per capita in Canada and the United States from 1970 to 2012, using data from the Canadian National Balance Sheet Accounts and the Flow of Funds Accounts published by the U.S. Federal Reserve.
Three approaches are adopted. The first makes a level comparison using values adjusted for purchasing power parity (PPP). The second uses ratios of real net worth per capita and net worth relative to disposable income. The third decomposes the growth of the ratio of net worth to disposable income. Together, these approaches provide mutually re-enforcing results that are more robust than what could be derived from any one approach in isolation.
Release date: 2014-08-20 - 7. Retiring with debt ArchivedArticles and reports: 75-001-X201100211428Geography: CanadaDescription:
It is often assumed that over the life course most older workers will pay off their debts and save for retirement. However, research from the United States suggests that an increasing number of seniors who are in pre-retirement or are retired are now struggling with debt. This article uses the 2009 Canadian Financial Capability Survey to look at the proportion, type and level of debt among Canadian retirees age 55 and over. It examines the socio-economic and demographic factors influencing the likelihood of carrying any debt in retirement. The financial circumstances of indebted retirees are also examined, including three indicators of financial security.
Release date: 2011-04-27 - 8. Are families getting richer? ArchivedArticles and reports: 11-008-X20020026348Geography: CanadaDescription:
This study examines whether the gap between high-wealth families and low-wealth families increased from 1984 to 1999, using data from the Assets and Debt Survey and the Survey of Financial Security.
Release date: 2002-09-17 - Articles and reports: 11F0019M2002187Geography: CanadaDescription:
Using data from the Assets and Debts Survey of 1984 and the Survey of Financial Security of 1999, we document the evolution of wealth inequality in Canada between 1984 and 1999. Our main findings are as follows: 1) wealth inequality has increased between 1984 and 1999, 2) the growth in wealth inequality has been associated with substantial declines in real average and median wealth for young couples with children and recent immigrants, 3) real median wealth and real average wealth rose much more among family units whose major income recipient is a university graduate than among other family units, 4) real median and average wealth fell among family units whose major income recipient is aged 25-34 and increased among those whose major income recipient is aged 55 and over, 5) the aging of the Canadian population over the 1984-1999 period has tended to reduce wealth inequality, 6) diverging changes in permanent income do not explain a substantial portion of the growing gap between low-wealth and high-wealth family units. Factors that may have contributed to rising wealth inequality - which cannot be quantified with existing data sets - include differences in the growth of inheritances, inter vivos transfers, rates of return on savings and number of years worked full-time. In particular, rates of return on savings may have increased more for wealthy family units than for their poorer counterparts as a result of the booming stock market during the 1990s.
Release date: 2002-02-22 - 10. Survey of Financial Security - Methodology for Estimating the Value of Employer Pension Plan Benefits ArchivedSurveys and statistical programs – Documentation: 13F0026M2001003Description:
Initial results from the Survey of Financial Security (SFS), which provides information on the net worth of Canadians, were released on March 15 2001, in The daily. The survey collected information on the value of the financial and non-financial assets owned by each family unit and on the amount of their debt.
Statistics Canada is currently refining this initial estimate of net worth by adding to it an estimate of the value of benefits accrued in employer pension plans. This is an important addition to any asset and debt survey as, for many family units, it is likely to be one of the largest assets. With the aging of the population, information on pension accumulations is greatly needed to better understand the financial situation of those nearing retirement. These updated estimates of the Survey of Financial Security will be released in late fall 2001.
The process for estimating the value of employer pension plan benefits is a complex one. This document describes the methodology for estimating that value, for the following groups: a) persons who belonged to an RPP at the time of the survey (referred to as current plan members); b) persons who had previously belonged to an RPP and either left the money in the plan or transferred it to a new plan; c) persons who are receiving RPP benefits.
This methodology was proposed by Hubert Frenken and Michael Cohen. The former has many years of experience with Statistics Canada working with data on employer pension plans; the latter is a principal with the actuarial consulting firm William M. Mercer. Earlier this year, Statistics Canada carried out a public consultation on the proposed methodology. This report includes updates made as a result of feedback received from data users.
Release date: 2001-09-05
Data (1)
Data (1) ((1 result))
- Table: 68-513-X19970013568Description:
Many governments have adopted policies aimed at reducing public debt. Although the long-run fiscal dividends of such policies largely depend on the size of the debt-to-GDP cut, the short and medium run effects are more dependent on the type and speed of measures taken.
Release date: 1998-02-04
Analysis (9)
Analysis (9) ((9 results))
- Stats in brief: 11-631-X2024002Description: The following presentation uses recently disaggregated macroeconomic accounts data to explore the contribution of housing to the accumulation of wealth and debt for Canadian families.Release date: 2024-02-28
- Articles and reports: 75-006-X201900100010Description:
This study uses data from the 2016 Survey of Financial Security to examine financial distress indicators for Canadian families. Three financial distress indicators are examined: the proportion of Canadian families who skipped or delayed a mortgage payment, the proportion who skipped or delayed a non-mortgage payment and the proportion who borrowed money through a payday loan. This paper also examines the factors associated with financial distress among Canadians, with a particular focus on their debt level.
Release date: 2019-06-26 - 3. The Wealth of Immigrant Families in Canada ArchivedArticles and reports: 11F0019M2019010Description:
While several studies have documented the evolution of the earnings of immigrants in Canada over the last three decades, the evolution of immigrants’ wealth has received relatively little attention. Using data from the Survey of Financial Security of 1999, 2005, 2012 and 2016, this study fills this gap. The study uncovers several key patterns.
Release date: 2019-04-16 - 4. Financial Expectations and Household Debt ArchivedArticles and reports: 11-626-X2019005Description:
This Economic Insights article quantifies the degree to which families who expect their financial situation to get better in the next two years have, all else equal, more debt than comparable families. The data are drawn from the Survey of Financial Security for 1999, 2005 and 2016. The term “family” is used to refer to family units and includes economic families and unattached individuals. Debt and income estimates are shown in 2016 dollars. The study shows that even after a large set of socioeconomic characteristics is controlled for, families who expect their financial situation to improve in the near future have significantly more debt and generally higher debt-to-income ratios than other families.
Release date: 2019-04-04 - Articles and reports: 75-006-X201500114134Description:
This study compares the wealth holdings of family units covered by workplace pension plans with those of other family units. It focuses on families and unattached individuals who had no significant business equity and whose major income recipient was aged 30 to 54 and employed as a paid worker. The paper also examines whether wealth differences observed between families with registered pension plan (RPP) assets and other families persist when key sociodemographic differences between the two populations are taken into account.
Release date: 2015-01-15 - Articles and reports: 11F0027M2014094Geography: CanadaDescription:
This report compares household net worth per capita in Canada and the United States from 1970 to 2012, using data from the Canadian National Balance Sheet Accounts and the Flow of Funds Accounts published by the U.S. Federal Reserve.
Three approaches are adopted. The first makes a level comparison using values adjusted for purchasing power parity (PPP). The second uses ratios of real net worth per capita and net worth relative to disposable income. The third decomposes the growth of the ratio of net worth to disposable income. Together, these approaches provide mutually re-enforcing results that are more robust than what could be derived from any one approach in isolation.
Release date: 2014-08-20 - 7. Retiring with debt ArchivedArticles and reports: 75-001-X201100211428Geography: CanadaDescription:
It is often assumed that over the life course most older workers will pay off their debts and save for retirement. However, research from the United States suggests that an increasing number of seniors who are in pre-retirement or are retired are now struggling with debt. This article uses the 2009 Canadian Financial Capability Survey to look at the proportion, type and level of debt among Canadian retirees age 55 and over. It examines the socio-economic and demographic factors influencing the likelihood of carrying any debt in retirement. The financial circumstances of indebted retirees are also examined, including three indicators of financial security.
Release date: 2011-04-27 - 8. Are families getting richer? ArchivedArticles and reports: 11-008-X20020026348Geography: CanadaDescription:
This study examines whether the gap between high-wealth families and low-wealth families increased from 1984 to 1999, using data from the Assets and Debt Survey and the Survey of Financial Security.
Release date: 2002-09-17 - Articles and reports: 11F0019M2002187Geography: CanadaDescription:
Using data from the Assets and Debts Survey of 1984 and the Survey of Financial Security of 1999, we document the evolution of wealth inequality in Canada between 1984 and 1999. Our main findings are as follows: 1) wealth inequality has increased between 1984 and 1999, 2) the growth in wealth inequality has been associated with substantial declines in real average and median wealth for young couples with children and recent immigrants, 3) real median wealth and real average wealth rose much more among family units whose major income recipient is a university graduate than among other family units, 4) real median and average wealth fell among family units whose major income recipient is aged 25-34 and increased among those whose major income recipient is aged 55 and over, 5) the aging of the Canadian population over the 1984-1999 period has tended to reduce wealth inequality, 6) diverging changes in permanent income do not explain a substantial portion of the growing gap between low-wealth and high-wealth family units. Factors that may have contributed to rising wealth inequality - which cannot be quantified with existing data sets - include differences in the growth of inheritances, inter vivos transfers, rates of return on savings and number of years worked full-time. In particular, rates of return on savings may have increased more for wealthy family units than for their poorer counterparts as a result of the booming stock market during the 1990s.
Release date: 2002-02-22
Reference (7)
Reference (7) ((7 results))
- 1. Survey of Financial Security - Methodology for Estimating the Value of Employer Pension Plan Benefits ArchivedSurveys and statistical programs – Documentation: 13F0026M2001003Description:
Initial results from the Survey of Financial Security (SFS), which provides information on the net worth of Canadians, were released on March 15 2001, in The daily. The survey collected information on the value of the financial and non-financial assets owned by each family unit and on the amount of their debt.
Statistics Canada is currently refining this initial estimate of net worth by adding to it an estimate of the value of benefits accrued in employer pension plans. This is an important addition to any asset and debt survey as, for many family units, it is likely to be one of the largest assets. With the aging of the population, information on pension accumulations is greatly needed to better understand the financial situation of those nearing retirement. These updated estimates of the Survey of Financial Security will be released in late fall 2001.
The process for estimating the value of employer pension plan benefits is a complex one. This document describes the methodology for estimating that value, for the following groups: a) persons who belonged to an RPP at the time of the survey (referred to as current plan members); b) persons who had previously belonged to an RPP and either left the money in the plan or transferred it to a new plan; c) persons who are receiving RPP benefits.
This methodology was proposed by Hubert Frenken and Michael Cohen. The former has many years of experience with Statistics Canada working with data on employer pension plans; the latter is a principal with the actuarial consulting firm William M. Mercer. Earlier this year, Statistics Canada carried out a public consultation on the proposed methodology. This report includes updates made as a result of feedback received from data users.
Release date: 2001-09-05 - 2. Survey of Financial Security - Estimating the Value of Employer Pension Plan Benefits - A Discussion Paper ArchivedSurveys and statistical programs – Documentation: 13F0026M2001002Description:
The Survey of Financial Security (SFS) will provide information on the net worth of Canadians. In order to do this, information was collected - in May and June 1999 - on the value of the assets and debts of each of the families or unattached individuals in the sample. The value of one particular asset is not easy to determine, or to estimate. That is the present value of the amount people have accrued in their employer pension plan. These plans are often called registered pension plans (RPP), as they must be registered with Canada Customs and Revenue Agency. Although some RPP members receive estimates of the value of their accrued benefit, in most cases plan members would not know this amount. However, it is likely to be one of the largest assets for many family units. And, as the baby boomers approach retirement, information on their pension accumulations is much needed to better understand their financial readiness for this transition.
The intent of this paper is to: present, for discussion, a methodology for estimating the present value of employer pension plan benefits for the Survey of Financial Security; and to seek feedback on the proposed methodology. This document proposes a methodology for estimating the value of employer pension plan benefits for the following groups:a) persons who belonged to an RPP at the time of the survey (referred to as current plan members); b) persons who had previously belonged to an RPP and either left the money in the plan or transferred it to a new plan; c) persons who are receiving RPP benefits.
Release date: 2001-02-07 - Surveys and statistical programs – Documentation: 13F0026M2001001Description:
This document briefly describes the Survey of Financial Security and presents the questionnaire used for the interview. The Survey of Financial Security (SFS) was conducted during May and June of 1999. The information was collected by personal interview, using a paper questionnaire. Introductory material was sent to the respondent prior to the first contact by the interviewer.
Approximately 23,000 dwellings were selected for the sample, most using the Labour Force Survey frame. The high-income sample was drawn from geographic areas with a larger concentration of high-income households.
The survey collected the following type of information: (1) general demographic information on all members of the family, (2) more detailed information on the education, employment, income, etc., on those family members 15 years of age and older, and, (3) asset and debt information on the family as a whole.
Release date: 2001-01-24 - Surveys and statistical programs – Documentation: 13F0026M1999006Description:
Although income and expenditure data provide an indication of current consumption and ability to purchase goods and services, they provide little information on the long-term ability of families to sustain themselves. The results of this survey will provide information on the net worth (wealth) of Canadian families, that is, the value of their assets less their debts.
This paper examines the objectives of the survey, how the survey has changed since 1984, the types of questions being asked and information that will be provided, as well as other survey background. An accompanying table outlines the content of the questionnaire. The intent of this paper is to describe the work done to date and the next steps for this important subject.
Release date: 1999-09-27 - Notices and consultations: 13F0026M1999001Description:
The main objectives of a new Canadian survey measuring asset and debt holding of families and individuals will be to update wealth information that is over one decade old; to improve the reliability of the wealth estimates; and, to provide a primary tool for analysing many important policy issues related to the distribution of assets and debts, future consumption possibilities, and savings behaviour that is of interest to governments, business and communities.
This paper is the document that launched the development of the new asset and debt survey, subsequently renamed the Survey of Financial Security. It looks at the conceptual framework for the survey, including the appropriate unit of measurement (family, household or person) and discusses measurement issues such as establishing an accounting framework for assets and debts. The variables proposed for inclusion are also identified. The paper poses several questions to readers and asks for comments and feedback.
Release date: 1999-03-23 - Notices and consultations: 13F0026M1999002Description:
This document summarizes the comments and feedback received on an earlier document: Towards a new Canadian asset and debt survey - A content discussion paper. The new asset and debt survey (now called the Survey of Financial Security) is to update the wealth information on Canadian families and unattached individuals. Since the last data collection was conducted in 1984, it was essential to include a consultative process in the development of the survey in order to obtain feedback on issues of concern and to define the conceptual framework for the survey.
Comments on the content discussion paper are summarized by major theme and sections indicate how the suggestions are being incorporated into the survey or why they could not be incorporated. This paper also mentions the main objectives of the survey and provides an overview of the survey content, revised according to the feedback from the discussion paper.
Release date: 1999-03-23 - 7. SLID Test 3B Results: Assets and Debts (Wealth) ArchivedSurveys and statistical programs – Documentation: 75F0002M1993017Description:
This report presents the results of the May 1993 Survey of Labour and Income Dynamics (SLID) test as they relate to the wealth items, at the individual level and at the family level.
Release date: 1995-12-30
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