The assets and debts of Canadians: focus on private pension savings

The assets and debts of Canadians: focus on private pension savings

Abstract

For the first time in a Canadian asset and debt survey, the 1999 Survey of Financial Security (SFS) includes an estimate of the value of benefits accrued in employer (i.e.registered) pension plans (RPPs). Although not an asset in the sense that it can be sold and used for another purpose, employer pension plan benefits are nonetheless an important part of the net worth of Canadians, as they provide many with at least a portion of their income in retirement. For many families, it is likely to be one of the largest assets.

The 1999 SFS provides the most comprehensive picture of the net worth of Canadians yet available. Information was collected on the value of all major financial and non-financial assets, and on the money owing on mortgages, vehicles, credit cards, student loans and other debts. The value of these assets, less the debts, is referred to as net worth. Data collection took place from May to July 1999, in all provinces. Although this is the seventh time that an asset and debt survey has been conducted by Statistics Canada, over 15 years have passed since the last survey was done, in 1984. Many changes have taken place since that time, in both the economy and the structure of families. Survey findings are available in the report The assets and debts of Canadians: an overview of the results of the Survey of Financial Security (catalogue no. 13-595-XIE).

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