Census of Trusteed Pension Funds

Detailed information for 2006

The purpose of the survey is to provide information on the growth of the assets of the trusteed pension funds, the investment mix and the sources of income and expenditures.

Data release - April 8, 2008

• Questionnaire(s) and reporting guide(s)
• Description
• Data sources and methodology
• Data accuracy

Description

The reserves held by trusteed pension funds are second in size only to those of the chartered banks; their growth therefore impacts significantly on the accumulation of wealth by Canadians. The purpose of the survey is to provide information on the growth of these assets, the investment mix and the sources of income and expenditures. Federal, provincial and municipal governments rely on these statistics to help monitor the conditions of Trusteed pension funds in Canada and to help shape pension fund policies. Trusteed pension fund statistics are used by Statistics Canada's System of National accounts to assist in the calculation of the GDP: by employers, financial institutions and investment consultants along with other pension fund policy analysts. These statistics are also needed to meet Canada's statistical obligations to supranational organizations such as the Organization for Economic Co-operation and Development (OECD).

Reference period: Fiscal year

Subjects

• Business performance and ownership
• Financial statements and performance
• Income, pensions, spending and wealth
• Labour
• Non-wage benefits
• Pension plans and funds and other retirement income programs

Data sources and methodology

Target population

This census is a biennial survey of all employer-sponsored pension funds in Canada. It covers Trusteed funds in both the private and public sectors, and both defined benefit and defined contribution arrangements.

Instrument design

The questionnaire asks for administrative and financial information concerning the trusteed pension fund. Respondents are asked to provide both the book and market values of their holdings. The questionnaire was last revised (minor wording changes) for the 2002 data year version.

Sampling

This survey is a census with a cross-sectional design.

Data are collected for all units of the target population, therefore, no sampling is done.

Data sources

Responding to this survey is mandatory.

Data are collected directly from survey respondents.

This is a mail survey with letter and telephone follow-up. Respondents may also submit data on an electronic questionnaire and submit electronically over the Internet. This information is provided by the respondents from their financial records.

View the Questionnaire(s) and reporting guide(s).

Error detection

All returns are manually verified upon receipt by comparing to previous returns. Consistency and basic accounting is checked. Each questionnaire is processed and validated individually and a computerized system ensures data quality and consistency. Any data validation and verification are accomplished by means of a telephone call.

Imputation

Manual imputation takes place before computerized editing. Imputation is based upon previous returns, similar returns, and subject matter expertise. Missing market values are estimated by assuming that the relationship between market value and book value is the same for the incomplete returns as for the completed returns.

Estimation

This methodology type does not apply to this statistical program.

Quality evaluation

Census data results are compared on a fund by fund basis to publicly available information. An industry publication, "Benefits Canada", publishes individual fund results, we compare their results with ours. The purpose of the comparison is to discover undercoverage (missing funds).

Disclosure control

Statistics Canada is prohibited by law from releasing any data which would divulge information obtained under the Statistics Act that relates to any identifiable person, business or organization without the prior knowledge or the consent in writing of that person, business or organization. Various confidentiality rules are applied to all data that are released or published to prevent the publication or disclosure of any information deemed confidential. If necessary, data are suppressed to prevent direct or residual disclosure of identifiable data.

Micro data records or files are not available to anyone other than the survey staff. All data released are tabulated in an aggregate form, and cannot be retabulated by a data user

Revisions and seasonal adjustment

This methodology does not apply to this survey.

Data accuracy

Census data are not subject to sampling error. The source data are financial records; there is no measurement error. The estimates are based on data compiled from the completed returns from 75% of the known universe of trusteed pension funds, accounting for about 95% of total assets. Since virtually all non-respondents represented relatively small funds, the few omissions would have little effect on total assets held by trusteed pension funds.