Contributions to Canadian corporate and public pension plans exceeded benefit payouts in 2004 for the first time in 10 years, according to data compiled by Statistics Canada. Employer and employee contributions totaled C$30.3 billion (US$24.6 billion) in 2004, compared with C$29.8 billion in benefits paid.
The aggregate return for Canadian pension plans was 8.6% in 2004, compared with 5.1% for 2003, StatCan reported. Pension plan assets totaled C$688 billion as of Dec. 31, up from C$626 billion a year earlier. Overall, Canadian pension funds had revenues (contributions and market gains) of C$93.4 billion in 2004 and expenditures (benefits paid and plan expenses) of C$56.5 billion.