Pension funds continue to rebound

Assets in pension funds up nearly 24 per cent from the low point in 2003 as employers bump up contributions: Statistics Canada
||Last Updated: 09/06/2005

Employer pension funds continue to rebound from the financial low point set in March 2003, according to the latest figures from Statistics Canada.

Over the 15 months to June 2004, assets in trusteed pensions funds increased nearly 24 per cent from $531.2 billion to $656.1 billion, a new record high. Before the downturn, fund assets had peaked at $614.4 billion in September 2000.

There was only a 0.5 per cent gain in the second quarter this year, however. This small gain was primarily due to a 2.2 per cent increase in the value of the funds’ foreign holdings. Foreign holdings represented 24.4 per cent of all fund assets.