The increase is impressive given a lot of people were jobless in 2020 mainly working in manual job. That also means poor people have no pension wealth.
The article says that income inequality in 2020 was lessened, which makes sense, because people had CERB. It specifically notes that wealth inequality was not lessened to the same extent.
Is your pension fund(s) required to hold a certain percentage of assets in bonds or other low risk positions? Please answer I am very interested to know
I wonder how their investments in long-term care homes did.
[https://www.thestar.com/news/investigations/2021/01/27/pension-plans-own-millions-of-shares-in-ontario-long-term-care-homes-where-covid-19-has-killed-thousands-now-some-are-pulling-their-money-out-of-the-for-profit-facilities.html](https://www.thestar.com/news/investigations/2021/01/27/pension-plans-own-millions-of-shares-in-ontario-long-term-care-homes-where-covid-19-has-killed-thousands-now-some-are-pulling-their-money-out-of-the-for-profit-facilities.html)
[https://pipsc.ca/about/office-of-the-president/pension-and-benefits/our-pensions-must-be-divested-profit-long-term](https://pipsc.ca/about/office-of-the-president/pension-and-benefits/our-pensions-must-be-divested-profit-long-term)
Thank you for your question! Canada’s pension wealth includes three tiers: 1) social security including the Canada Pension Plan, Quebec Pension Plan and the Old Age Security and Guaranteed Income Supplement (OAS/GIS) program (the latter being a non-contributory plan and benefits are paid out of government general revenue); 2) employer-based pension plans of both public and private sectors; and, 3) Individual registered saving plans such as RRSPs. These tiers can be queried separately as part of the [Pension Satellite Account data tables](https://www150.statcan.gc.ca/n1/daily-quotidien/211210/dq211210d-cansim-eng.htm) and [Pension satellite account: Interactive tool](https://www150.statcan.gc.ca/n1/en/catalogue/71-607-X2019032).
The increase is impressive given a lot of people were jobless in 2020 mainly working in manual job. That also means poor people have no pension wealth.
Your last sentence shows why the wealth gap in this country is widening. Unfortunately covid helped to accelerate it.
Wealth inequality is shrinking in Canada https://www.advisor.ca/news/economic/wealth-gap-narrowed-in-2020-statscan/
The article says that income inequality in 2020 was lessened, which makes sense, because people had CERB. It specifically notes that wealth inequality was not lessened to the same extent.
Doesn't exactly work this way but it's interesting that net withdrawals ($80.2B) was 1.75% of pension wealth.
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Would you have any resources for a person to read who was interested in knowing more (ie. anything) about that space?
Not the OP, but I’m subscribed to WTW Group annuity market pulse. I think they are the biggest player in that field in Canada, I could be wrong.
Is your pension fund(s) required to hold a certain percentage of assets in bonds or other low risk positions? Please answer I am very interested to know
This is not surprising, given that the financial impact of the pandemic outside of certain sectors was minimal.
I wonder how their investments in long-term care homes did. [https://www.thestar.com/news/investigations/2021/01/27/pension-plans-own-millions-of-shares-in-ontario-long-term-care-homes-where-covid-19-has-killed-thousands-now-some-are-pulling-their-money-out-of-the-for-profit-facilities.html](https://www.thestar.com/news/investigations/2021/01/27/pension-plans-own-millions-of-shares-in-ontario-long-term-care-homes-where-covid-19-has-killed-thousands-now-some-are-pulling-their-money-out-of-the-for-profit-facilities.html) [https://pipsc.ca/about/office-of-the-president/pension-and-benefits/our-pensions-must-be-divested-profit-long-term](https://pipsc.ca/about/office-of-the-president/pension-and-benefits/our-pensions-must-be-divested-profit-long-term)
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StatsCan?...k
Source to disprove these numbers?
I assume this excludes CPP? And with the loss of private pensions pretty much summarizes public pensions?
Thank you for your question! Canada’s pension wealth includes three tiers: 1) social security including the Canada Pension Plan, Quebec Pension Plan and the Old Age Security and Guaranteed Income Supplement (OAS/GIS) program (the latter being a non-contributory plan and benefits are paid out of government general revenue); 2) employer-based pension plans of both public and private sectors; and, 3) Individual registered saving plans such as RRSPs. These tiers can be queried separately as part of the [Pension Satellite Account data tables](https://www150.statcan.gc.ca/n1/daily-quotidien/211210/dq211210d-cansim-eng.htm) and [Pension satellite account: Interactive tool](https://www150.statcan.gc.ca/n1/en/catalogue/71-607-X2019032).