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The percentage of the labour force covered by a pension plan declined, from 34% in 1999 to 33% in 2009.
Ottawa (8 September 2011) – While the number of plan members covered by a registered pension plan (RPP) in Canada has increased over the last ten years, the number of members as a percentage of the labour force has decreased slightly during the same period. This is according to a new fact sheet on RPPs and retirement savings coverage, released by the Office of the Chief Actuary.
The total number of plan members covered by an RPP has increased 14% over the last 10 years, from 5.3 million in 1999 to 6 million in 2009. However, the number of RPP members as a percentage of the labour force declined slightly from 34% in 1999 to 33% in 2009.
Both the private sector and public sector experienced an overall percentage decrease while experiencing an increase in the number of plan members. Coverage in the public sector decreased from 88% to 86% of public sector employees from 1999 to 2009, while the number of members increased from 2.4 million to 3 million. during the same period. Coverage in the private sector decreased from 28% to 25% of private sector employees, while the number of members covered increased from 2.8 million to 3 million.
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The National Union of Public and General Employees (NUPGE) is one of Canada's largest labour organizations with over 340,000 members. Our mission is to improve the lives of working families and to build a stronger Canada by ensuring our common wealth is used for the common good. NUPGE
More information:
Registered Pension Plan (RPP) and Retirement Savings Coverage (Canada)