Pensions in Canada
A few quick facts about Pensions in Canada:Pensions: Who has what
◊ 84% of public service workers have pensions.
◊ 78% of these plans are gold plated defined benefit pensions
◊ 25% of private sector workers have a pension plan
◊ 16% of these plans are gold plated defined benefit pensions
◊ 11 million workers, or 60 per cent, of Canada’s workers have no pension at all
◊ 8 million or 45 per cent, have no pensions or registered retirement savings plans (RRSPs)
(Source: Globe and Mail - Friday, Oct. 16, 2009)
What you should know:
◊ 17.6 million: Number of people in the Canadian work force.
◊ 11 million: Number of Canadian workers without pension plans.
◊ 4 million: Number of those workers with registered retirement savings plans.
◊ 10,000: Number of pension plans in Canada.
◊ 4.5 million: Workers with pension plans who have defined benefit plans that guarantee the pension income of retirees until they die.
◊ 55 per cent: Amount of those plans held by public sector employees.
◊ $25,000: Average pension per year.
(Source: Infometrica, University of Toronto professor Keith Ambachtsheer)
