Pension wealth buoyed by strong markets
After the market recovery in the second half of 2020, following the sharp decline at the onset of the COVID-19 pandemic, equities continued to rise throughout 2021. The Standard & Poor's 500 posted annual gains of 26.9% in 2021, outperforming domestic markets which saw the Toronto Stock Exchange increase 21.7%. That sustained momentum was a significant contributor to the growth in total pension wealth, which rose 7.9% in 2021 to reach nearly $4,867.8 billion by the end of year.
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