This statistic shows the total median income of senior citizens in Canada from 2000 to 2020, distinguished by age group. In 2020, the total median income of Canadian senior citizens aged 65 years and over amounted to 32,020 Canadian dollars.

Income of individuals by age group, sex and income source, Canada, provinces and selected census metropolitan areas, annual.

This statistic shows the median total income of senior couple families, aged 55 years and over, in Canada from 2000 to 2020, distinguished by age group. In 2020, the median income of senior couple families aged 65 years and over was 76,510 Canadian dollars.

Retirement income of adults with and without disabilities by age group and sex, Canada, provinces and territories, occasional (number unless otherwise noted).

This table contains 58320 series, with data for years 1999 - 2016 (not all combinations necessarily have data for all years). This table contains data described by the following dimensions (Not all combinations are available): Geography (20 items: Canada; Atlantic; Newfoundland and Labrador; Prince Edward Island; ...); Assets and debts (27 items: Total assets; Private pension assets; Registered Retirement Savings Plans (RRSPs), Registered Retirement Income Funds (RRIFs), Locked-in Retirement Accounts (LIRAs) and other; Employer-sponsored Registered Pension Plans (EPPs); ...); Net worth quintiles (6 items: Total, all net worth quintiles; Lowest net worth quintile; Second net worth quintile; Middle net worth quintile; ...); Statistics (6 items: Total values; Percentage of total assets or total debts; Number holding asset or debt; Percentage holding asset or debt; ...); Confidence intervals (3 items: Estimate; Lower bound of a 95% confidence interval; Upper bound of a 95% confidence interval).

Households where the major income earner was from 35 to 44 years old had the highest amount of net savings in 2024. That segment saved on average nearly ****** Canadian dollars that year alone. Households of individuals older than 64 had negative net savings amounting to ****** Canadian dollars, which means that their expenses were higher than their revenue. These figures do not show the overall value of savings accumulated in bank accounts and other assets, but the amount of money that households managed to save in a single year.

Notes Continued: 11: Total income - The sum of certain incomes (in cash and in some circumstances in kind) of the statistical unit during a specified reference period. The components used to calculate total income vary between: *statistical units of social statistical programs such as persons private households census families and economic families; *statistical units of business statistical programs such as enterprises companies establishments and locations; *statistical units of farm statistical programs such as farm operator and farm family. In the context of persons total income refers to receipts from certain sources before income taxes and deductions during a specified reference period. In the context of census families total income refers to receipts from certain sources of all of its family members before income taxes and deductions during a specified reference period. In the context of economic families total income refers to receipts from certain sources of all of its family members before income taxes and deductions during a specified reference period. In the context of households total income refers to receipts from certain sources of all household members before income taxes and deductions during a specified reference period. The monetary receipts included are those that tend to be of a regular and recurring nature. Receipts that are included as income are: *employment income from wages salaries tips commissions and net income from self-employment (for both unincorporated farm and non-farm activities); *income from investment sources such as dividends and interest on bonds accounts guaranteed investment certificates (GICs) and mutual funds; *income from employer and personal pension sources such as private pensions and payments from annuities and registered retirement income funds (RRIFs); *other regular cash income such as child support payments received spousal support payments (alimony) received and scholarships; * income from government sources such as social assistance child benefits Employment Insurance benefits Old Age Security benefits COVID-19 benefits and Canada Pension Plan and Québec Pension Plan benefits and disability income. Receipts excluded from this income definition are: *one-time receipts such as lottery winnings gambling winnings cash inheritances lump-sum insurance settlements and tax-free savings account (TFSA) or registered retirement savings plan (RRSP) withdrawals; *capital gains because they are not by their nature regular and recurring. It is further assumed that they are more relevant to the concept of wealth than the concept of income; *employers' contributions to registered pension plans Canada Pension Plan Québec Pension Plan and Employment Insurance; *voluntary inter-household transfers imputed rent goods and services produced for barter and goods produced for own consumption. After-tax income - Total income less income taxes of the statistical unit during a specified reference period. Income taxes refers to the sum of federal income taxes provincial and territorial income taxes less abatement where applicable. Provincial and territorial income taxes include health care premiums in certain jurisdictions. Abatement reduces the federal income taxes payable by persons residing in Quebec or in certain self-governing Yukon First Nation settlement lands. Market income - The sum of employment income (wages salaries and commissions net self-employment income from farm or non-farm unincorporated business and/or professional practice) investment income private retirement income (retirement pensions superannuation and annuities including those from registered retirement savings plans [RRSPs] and registered retirement income funds [RRIFs]) and other money income from market sources during the reference period. It is equivalent to total income minus government transfers. It is also referred to as income before transfers and taxes. Government transfers - All cash benefits received from federal provincial territorial or municipal governments during the reference period. It includes: *Old Age Security pension Guaranteed Income Supplement Allowance or Allowance for the Survivor; *retirement disability and survivor benefits from Canada Pension Plan and Québec Pension Plan; *benefits from Employment Insurance and Québec parental insurance plan; *child benefits from federal and provincial programs; *social assistance benefits; *workers' compensation benefits; *Canada workers benefit (CWB); *Goods and services tax credit and harmonized sales tax credit; *other income from government sources. For the 2021 Census this includes various benefits from new and existing federal provincial and territorial government income programs intended to provide financial support to individuals affected by the COVID-19 pandemic and the public health measures implemented to minimize the spread of the virus. Employment income - All income received as wages salaries and commissions from paid employment and net self-employment income from farm or non-farm unincorporated business and/or professional practice during the reference period. For the 2021 Census the reference period for income data is the calendar year 2020 unless otherwise specified. Average income of a specified group is calculated by dividing the aggregate income of that group by the number of units in that group. Average incomes of individuals are calculated for those with income (positive or negative). 12: Employment income - All income received as wages salaries and commissions from paid employment and net self-employment income from farm or non-farm unincorporated business and/or professional practice during the reference period. For the 2021 Census the reference period for income data is the calendar year 2020 unless otherwise specified. 13: Full-year full-time workers - Persons aged 15 years and over who worked mostly full time (30 hours or more per week) and full year (49 weeks and over per year) in 2020. For more information see variable work activity in 2020 Dictionary Census of Population 2021. 14: Median income - The median income of a specified group is the amount that divides the income distribution of that group into two halves i.e. the incomes of half of the units in that group are below the median while those of the other half are above the median. Median incomes of individuals are calculated for those with income (positive or negative). 15: Average income - Average income of a specified group is calculated by dividing the aggregate income of that group by the number of units in that group. Average incomes of individuals are calculated for those with income (positive or negative). 16: Part year or part time workers - Persons aged 15 years and over who worked mostly part time (less than 30 hours per week) or 48 weeks or less during 2020. For more information see variable work activity in 2020 Dictionary Census of Population 2021. 17: Composition of total income - The composition of the total income of a population group or a geographic area refers to the relative share of each income source or group of sources expressed as a percentage of the aggregate total income of that group or area. For the 2021 Census the reference period for income data is the calendar year 2020 unless otherwise specified. 18: Market income - The sum of employment income (wages salaries and commissions net self-employment income from farm or non-farm unincorporated business and/or professional practice) investment income private retirement income (retirement pensions superannuation and annuities including those from registered retirement savings plans [RRSPs] and registered retirement income funds [RRIFs]) and other money income from market sources during the reference period. It is equivalent to total income minus government transfers. It is also referred to as income before transfers and taxes. For the 2021 Census the reference period for income data is the calendar year 2020 unless otherwise specified. 19: Employment income - All income received as wages salaries and commissions from paid employment and net self-employment income from farm or non-farm unincorporated business and/or professional practice during the reference period. For the 2021 Census the reference period for income data is the calendar year 2020 unless otherwise specified. 20: Government transfers - All cash benefits received from federal provincial territorial or municipal governments during the reference period. It includes: *Old Age Security pension Guaranteed Income Supplement Allowance or Allowance for the Survivor; *retirement disability and survivor benefits from Canada Pension Plan and Québec Pension Plan; *benefits from Employment Insurance and Québec parental insurance plan; *child benefits from federal and provincial programs; *social assistance benefits; *workers' compensation benefits; *Canada workers benefit (CWB); *Goods and services tax credit and harmonized sales tax credit; *other income from government sources. For the 2021 Census this includes various benefits from new and existing federal provincial and territorial government income programs intended to provide financial support to individuals affected by the COVID-19 pandemic and the public health measures implemented to minimize the spread of the virus. For the 2021 Census the reference period for income data is the calendar year 2020 unless otherwise specified. 21: Total income -

This table contains 448 series, with data for years 1997 - 2009 (not all combinations necessarily have data for all years). This table contains data described by the following dimensions (Not all combinations are available): Geography (14 items: Canada; Newfoundland and Labrador; Prince Edward Island; Nova Scotia; ...); Household spending, insurance and pensions (8 items: Total personal insurance payments and pension contributions; Life insurance premiums; Annuity contracts and transfers to Registered Retirement Income Funds (RRIFs); Employment insurance premiums; ...); Statistics (4 items: Average expenditure; Percent of households reporting; Estimated number of households reporting; Median expenditure per household reporting).

Data quality: Hamilton, City (C) Total non-response (TNR) rate, short-form census questionnaire: 2.5% Total non-response (TNR) rate, long-form census questionnaire: 3.5%Notes: 21: Total income - The sum of certain incomes (in cash and in some circumstances in kind) of the statistical unit during a specified reference period. The components used to calculate total income vary between: *statistical units of social statistical programs such as persons private households census families and economic families; *statistical units of business statistical programs such as enterprises companies establishments and locations; *statistical units of farm statistical programs such as farm operator and farm family. In the context of persons total income refers to receipts from certain sources before income taxes and deductions during a specified reference period. In the context of census families total income refers to receipts from certain sources of all of its family members before income taxes and deductions during a specified reference period. In the context of economic families total income refers to receipts from certain sources of all of its family members before income taxes and deductions during a specified reference period. In the context of households total income refers to receipts from certain sources of all household members before income taxes and deductions during a specified reference period. The monetary receipts included are those that tend to be of a regular and recurring nature. Receipts that are included as income are: *employment income from wages salaries tips commissions and net income from self-employment (for both unincorporated farm and non-farm activities); *income from investment sources such as dividends and interest on bonds accounts guaranteed investment certificates (GICs) and mutual funds; *income from employer and personal pension sources such as private pensions and payments from annuities and registered retirement income funds (RRIFs); *other regular cash income such as child support payments received spousal support payments (alimony) received and scholarships; *income from government sources such as social assistance child benefits Employment Insurance benefits Old Age Security benefits COVID-19 benefits and Canada Pension Plan and Québec Pension Plan benefits and disability income. Receipts excluded from this income definition are: *one-time receipts such as lottery winnings gambling winnings cash inheritances lump-sum insurance settlements and tax-free savings account (TFSA) or registered retirement savings plan (RRSP) withdrawals; *capital gains because they are not by their nature regular and recurring. It is further assumed that they are more relevant to the concept of wealth than the concept of income; *employers' contributions to registered pension plans Canada Pension Plan Québec Pension Plan and Employment Insurance; *voluntary inter-household transfers imputed rent goods and services produced for barter and goods produced for own consumption. For the 2021 Census the reference period for income data is the calendar year 2020 unless otherwise specified. 22: After-tax income - After-tax income refers to total income less income taxes of the statistical unit during a specified reference period. Income taxes refers to the sum of federal income taxes provincial and territorial income taxes less abatement where applicable. Provincial and territorial income taxes include health care premiums in certain jurisdictions. Abatement reduces the federal income taxes payable by persons residing in Quebec or in certain self-governing Yukon First Nation settlement lands. For the 2021 Census the reference period for income data is the calendar year 2020 unless otherwise specified. 23, 24: Total income - The sum of certain incomes (in cash and in some circumstances in kind) of the statistical unit during a specified reference period. The components used to calculate total income vary between: *statistical units of social statistical programs such as persons private households census families and economic families *statistical units of business statistical programs such as enterprises companies establishments and locations; *statistical units of farm statistical programs such as farm operator and farm family. In the context of persons total income refers to receipts from certain sources before income taxes and deductions during a specified reference period.In the context of census families total income refers to receipts from certain sources of all of its family members before income taxes and deductions during a specified reference period. In the context of economic families total income refers to receipts from certain sources of all of its family members before income taxes and deductions during a specified reference period. In the context of households total income refers to receipts from certain sources of all household members before income taxes and deductions during a specified reference period. The monetary receipts included are those that tend to be of a regular and recurring nature. Receipts that are included as income are: *employment income from wages salaries tips commissions and net income from self-employment (for both unincorporated farm and non-farm activities); *income from investment sources such as dividends and interest on bonds accounts guaranteed investment certificates (GICs) and mutual funds; *income from employer and personal pension sources such as private pensions and payments from annuities and registered retirement income funds (RRIFs); *other regular cash income such as child support payments received spousal support payments (alimony) received and scholarships; *income from government sources such as social assistance child benefits Employment Insurance benefits Old Age Security benefits Canada Pension Plan and Québec Pension Plan benefits and disability income. Receipts excluded from this income definition are: *one-time receipts such as lottery winnings gambling winnings cash inheritances lump-sum insurance settlements and tax-free savings account (TFSA) or registered retirement savings plan (RRSP) withdrawals; *capital gains because they are not by their nature regular and recurring. It is further assumed that they are more relevant to the concept of wealth than the concept of income; *employers' contributions to registered pension plans Canada Pension Plan Québec Pension Plan and Employment Insurance; *voluntary inter-household transfers imputed rent goods and services produced for barter and goods produced for own consumption. After-tax income - Total income less income taxes of the statistical unit during a specified reference period. Income taxes refers to the sum of federal income taxes provincial and territorial income taxes less abatement where applicable. Provincial and territorial income taxes include health care premiums in certain jurisdictions. Abatement reduces the federal income taxes payable by persons residing in Quebec or in certain self-governing Yukon First Nation settlement lands. Market income - The sum of employment income (wages salaries and commissions net self-employment income from farm or non-farm unincorporated business and/or professional practice) investment income private retirement income (retirement pensions superannuation and annuities including those from registered retirement savings plans [RRSPs] and registered retirement income funds [RRIFs]) and other money income from market sources during the reference period. It is equivalent to total income minus government transfers. It is also referred to as income before transfers and taxes. Government transfers - All cash benefits received from federal provincial territorial or municipal governments during the reference period. It includes: *Old Age Security pension Guaranteed Income Supplement Allowance or Allowance for the Survivor; *retirement disability and survivor benefits from Canada Pension Plan and Québec Pension Plan; *benefits from Employment Insurance and Québec parental insurance plan; *child benefits from federal and provincial programs; *social assistance benefits;- workers' compensation benefits; *Canada workers benefit (CWB); *Goods and services tax credit and harmonized sales tax credit; *other income from government sources. Employment income - All income received as wages salaries and commissions from paid employment and net self-employment income from farm or non-farm unincorporated business and/or professional practice during the reference period.Employment Insurance (EI) benefits - All Employment Insurance (EI) benefits received during the reference period before income tax deductions. It includes benefits for unemployment sickness maternity paternity adoption compassionate care work sharing retraining and benefits to self-employed fishers received under the federal EI Program or the Québec parental insurance plan. The reference period for these variables is calendar year 2019. These variables are intended for comparison with their 2020 equivalent and other 2019 income variables. Income for 2019 is presented in 2020 constant dollars. Average income of a specified group is calculated by dividing the aggregate income of that group by the number of units in that group. Average incomes of individuals are calculated for those with income (positive or negative). Median income - The median income of a specified group is the amount that divides the income distribution of that group into two halves i.e. the incomes of half of the units in that group are below the median while those of the other half are above the median. Median incomes of individuals are calculated for those with income (positive or negative). 25: Employment income - All income received as wages salaries and

This table contains 2394 series, with data for years 1991 - 1991 (not all combinations necessarily have data for all years). This table contains data described by the following dimensions (Not all combinations are available): Geography (1 items: Canada ...), Population group (19 items: Entire cohort; Income adequacy quintile 1 (lowest);Income adequacy quintile 2;Income adequacy quintile 3 ...), Age (14 items: At 25 years; At 30 years; At 40 years; At 35 years ...), Sex (3 items: Both sexes; Females; Males ...), Characteristics (3 items: Life expectancy; High 95% confidence interval; life expectancy; Low 95% confidence interval; life expectancy ...).

In 2023, the Netherlands had the highest ratio of pension assets to gross domestic product (GDP). A pension fund is any plan, fund, or scheme that provides retirement income. The Netherlands had *** percent of its GDP invested in retirement funds that year, followed by Switzerland with ***** percent. The third-place ranking is completed by Canada, with ***** percent of its GDP invested in retirement funds.

Footnotes:1Gender refers to an individual's personal and social identity as a man, woman or non-binary person (a person who is not exclusively a man or a woman). Gender includes the following concepts: gender identity, which refers to the gender that a person feels internally and individually; gender expression, which refers to the way a person presents their gender, regardless of their gender identity, through body language, aesthetic choices or accessories (e.g., clothes, hairstyle and makeup), which may have traditionally been associated with a specific gender. A person's gender may differ from their sex at birth, and from what is indicated on their current identification or legal documents such as their birth certificate, passport or driver's licence. A person's gender may change over time. Some people may not identify with a specific gender.2Given that the non-binary population is small, data aggregation to a two-category gender variable is sometimes necessary to protect the confidentiality of responses provided. In these cases, individuals in the category “non-binary persons” are distributed into the other two gender categories and are denoted by the “+” symbol.3Age' refers to the age of a person (or subject) of interest at last birthday (or relative to a specified, well-defined reference date).4The median income of a specified group is the amount that divides the income distribution of that group into two halves, i.e., the incomes of half of the units in that group are below the median, while those of the other half are above the median. Median incomes of individuals are calculated for those with income (positive or negative).5Average income of a specified group is calculated by dividing the aggregate income of that group by the number of units in that group. Average incomes are calculated for those with income (positive or negative).6Total income refers to the sum of certain incomes (in cash and, in some circumstances, in kind) of the statistical unit during a specified reference period. The components used to calculate total income vary between: – Statistical units of social statistical programs such as persons, private households, census families and economic families; – Statistical units of business statistical programs such as enterprises, companies, establishments and locations; and – Statistical units of farm statistical programs such as farm operator and farm family. In the context of persons, total income refers to receipts from certain sources, before income taxes and deductions, during a specified reference period. In the context of census families, total income refers to receipts from certain sources of all of its family members, before income taxes and deductions, during a specified reference period. In the context of economic families, total income refers to receipts from certain sources of all of its family members, before income taxes and deductions, during a specified reference period. In the context of households, total income refers to receipts from certain sources of all household members, before income taxes and deductions, during a specified reference period. The monetary receipts included are those that tend to be of a regular and recurring nature. Receipts that are included as income are: * employment income from wages, salaries, tips, commissions and net income from self-employment (for both unincorporated farm and non-farm activities); * income from investment sources, such as dividends and interest on bonds, accounts, guaranteed investment certificates (GICs) and mutual funds; * income from employer and personal pension sources, such as private pensions and payments from annuities and registered retirement income funds (RRIFs); * other regular cash income, such as child support payments received, spousal support payments (alimony) received and scholarships; * income from government sources, such as social assistance, child benefits, Employment Insurance benefits, Old Age Security benefits, COVID-19 benefits and Canada Pension Plan and Québec Pension Plan benefits and disability income. Receipts excluded from this income definition are: * one-time receipts, such as lottery winnings, gambling winnings, cash inheritances, lump-sum insurance settlements and tax-free savings account (TFSA) or registered retirement savings plan (RRSP) withdrawals; * capital gains because they are not by their nature regular and recurring. It is further assumed that they are more relevant to the concept of wealth than the concept of income; * employers' contributions to registered pension plans, Canada Pension Plan, Québec Pension Plan and Employment Insurance; * voluntary inter-household transfers, imputed rent, goods and services produced for barter and goods produced for own consumption.7The reference period for this variable is calendar year 2019. The variable is intended for comparison with its 2020 equivalent and other 2019 income variables. Income for 2019 is presented in 2020 constant dollars.8The sum of employment income (wages, salaries and commissions, net self-employment income from farm or non-farm unincorporated business and/or professional practice), investment income, private retirement income (retirement pensions, superannuation and annuities, including those from registered retirement savings plans [RRSPs] and registered retirement income funds [RRIFs]) and other money income from market sources during the reference period. It is equivalent to total income minus government transfers. It is also referred to as income before transfers and taxes.9The reference period for this variable is calendar year 2019. The variable is intended for comparison with its 2020 equivalent and other 2019 income variables. Income for 2019 is presented in 2020 constant dollars.10All income received as wages, salaries and commissions from paid employment and net self-employment income from farm or non-farm unincorporated business and/or professional practice during the reference period.11The reference period for this variable is calendar year 2019. The variable is intended for comparison with its 2020 equivalent and other 2019 income variables. Income for 2019 is presented in 2020 constant dollars.12Gross wages and salaries before deductions for such items as income taxes, pension plan contributions and employment insurance premiums during the reference period. While other employee remuneration such as security options benefits, board and lodging and other taxable allowances and benefits are included in this source, employer's contributions to pension plans and employment insurance plans are excluded. Other receipts included in this source are military pay and allowances, tips, commissions and cash bonuses associated with paid employment, benefits from wage-loss replacement plans or income-maintenance insurance plans, supplementary unemployment benefits from an employer or union, research grants, royalties from a work or invention with no associated expenses and all types of casual earnings during the reference period.13The reference period for this variable is calendar year 2019. The variable is intended for comparison with its 2020 equivalent and other 2019 income variables. Income for 2019 is presented in 2020 constant dollars.14Net income (gross receipts minus cost of operation and capital cost allowance) received during the reference period from self-employment activities, either on own account or in partnership. In the case of partnerships, only the person's share of income is included. Net partnership income of a limited or non-active partner is excluded. It includes farming income, fishing income and income from unincorporated business or professional practice. Commission income for a self-employed commission salesperson and royalties from a work or invention with expenses associated are also included in this source.15The reference period for this variable is calendar year 2019. The variable is intended for comparison with its 2020 equivalent and other 2019 income variables. Income for 2019 is presented in 2020 constant dollars.16All cash benefits received from federal, provincial, territorial or municipal governments during the reference period. It includes: * Old Age Security pension, Guaranteed Income Supplement, Allowance or Allowance for the Survivor; * retirement, disability and survivor benefits from Canada Pension Plan and Québec Pension Plan; * benefits from Employment Insurance and Québec parental insurance plan; * child benefits from federal and provincial programs; * social assistance benefits; * workers' compensation benefits; * Canada workers benefit (CWB); * Goods and services tax credit and harmonized sales tax credit; * other income from government sources. For the 2021 Census, this includes various benefits from new and existing federal, provincial and territorial government income programs intended to provide financial support to individuals affected by the COVID-19 pandemic and the public health measures implemented to minimize the spread of the virus.17The reference period for this variable is calendar year 2019. The variable is intended for comparison with its 2020 equivalent and other 2019 income variables. Income for 2019 is presented in 2020 constant dollars.18Refers to the sum of payments received from COVID-19 - Emergency and recovery benefits and Employment Insurance (EI) benefits.19The reference period for this variable is calendar year 2019. The variable is intended for comparison with its 2020 equivalent and other 2019 income variables. Income for 2019 is presented in 2020 constant dollars. In 2019, earning replacement benefits is equal to Employment Insurance (EI) benefits.20All Employment Insurance (EI) benefits received during the reference period, before income tax deductions. It includes benefits for unemployment, sickness, maternity, paternity, adoption, compassionate care, work sharing, retraining, and benefits to self-employed fishers

This dataset includes Statistics Canada table 46-10-0050-01, titled "Total family income and owner characteristics at the residential property level by income quintiles". The dataset has been split up into three tables: Table A includes the number of properties and average assessment value of properties by the owner's income quintile, the property type (eg. detached house, condominium), and by family type (lone-parent family, couple family, and other census family). Table B includes includes the number of properties and average assessment value of properties by the owner's income quintile, the property type (eg. detached house, condominium), and by pension income categories (eg. whether or not the owner of the property is receiving a pension). Table C includes includes includes the number of properties and average assessment value of properties by the owner's income quintile, the property type (eg. detached house, condominium), and by residency participation types (eg. whether the property is owned by resident owners only or a mix of resident and non-resident owners). The tables have been edited to include only geographies from British Columbia and to have the unique ID numbers added to the Census Subdivisions and Census Metropolitan Areas. The tables are available in CSV and Excel Workbook format. Definitions and notes are included at the bottom of the spreadsheet. This data set was collected as part of the Canadian Housing Statistics Program by Statistics Canada. Geographies: Abbotsford-Mission, census metropolitan area, Abbotsford, Mission, Kelowna, census metropolitan area, Central Okanagan, Central Okanagan J, Kelowna, Lake Country, Peachland, West Kelowna, Vancouver, census metropolitan area, Anmore, Belcarra, Bowen Island, Burnaby, Coquitlam, Delta, Langley, city, Langley, municipal district, Lions Bay, Maple Ridge, Metro Vancouver A, New Westminster, North Vancouver, city, North Vancouver, municipal district, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, Surrey, Vancouver, West Vancouver, White Rock, Victoria, census metropolitan area, Central Saanich, Colwood, Esquimalt, Highlands, Juan de Fuca (Part 1), Langford, Metchosin, North Saanich, Oak Bay, Saanich, Sidney, Sooke, Victoria, View Royal, British Columbia, outside of census metropolitan areas, Alberni-Clayoquot A, Alberni-Clayoquot B, Alberni-Clayoquot C, Alberni-Clayoquot D, Alberni-Clayoquot E, Alberni-Clayoquot F, Alert Bay, Armstrong, Ashcroft, Barriere, Bulkley-Nechako A, Bulkley-Nechako B, Bulkley-Nechako C, Bulkley-Nechako D, Bulkley-Nechako E, Bulkley-Nechako F, Bulkley-Nechako G, Burns Lake, Cache Creek, Campbell River, Canal Flats, Cariboo A, Cariboo B, Cariboo C, Cariboo D, Cariboo E, Cariboo F, Cariboo G, Cariboo H, Cariboo I, Cariboo J, Cariboo K, Cariboo L, Castlegar, Central Coast A, Central Coast C, Central Coast D, Central Coast E, Central Kootenay A, Central Kootenay B, Central Kootenay C, Central Kootenay D, Central Kootenay E, Central Kootenay F, Central Kootenay G, Central Kootenay H, Central Kootenay I, Central Kootenay J, Central Kootenay K, Chase, Chetwynd, Chilliwack, Clearwater, Clinton, Coldstream, Columbia-Shuswap A, Columbia-Shuswap B, Columbia-Shuswap C, Columbia-Shuswap D, Columbia-Shuswap E, Columbia-Shuswap F, Comox, Comox Valley A, Comox Valley B (Lazo North), Comox Valley C (Puntledge - Black Creek), Courtenay, Cowichan Valley A, Cowichan Valley B, Cowichan Valley C, Cowichan Valley D, Cowichan Valley E, Cowichan Valley F, Cowichan Valley G, Cowichan Valley H, Cowichan Valley I, Cranbrook, Creston, Cumberland, Dawson Creek, Duncan, East Kootenay A, East Kootenay B, East Kootenay C, East Kootenay E, East Kootenay F, East Kootenay G, Elkford, Enderby, Fernie, Fort St. James, Fort St. John, Fraser Lake, Fraser Valley A, Fraser Valley B, Fraser Valley C, Fraser Valley D, Fraser Valley E, Fraser Valley F, Fraser Valley G, Fraser Valley H, Fraser-Fort George A, Fraser-Fort George C, Fraser-Fort George D, Fraser-Fort George E, Fraser-Fort George F, Fraser-Fort George G, Fraser-Fort George H, Fruitvale, Gibsons, Gold River, Golden, Grand Forks, Granisle, Greenwood, Harrison Hot Springs, Hazelton, Hope, Houston, Hudson's Hope, Invermere, Juan de Fuca (Part 2), Kamloops, Kaslo, Kent, Keremeos, Kimberley, Kitimat, Kitimat-Stikine A, Kitimat-Stikine B, Kitimat-Stikine C (Part 1), Kitimat-Stikine C (Part 2), Kitimat-Stikine D, Kitimat-Stikine E, Kitimat-Stikine F, Kootenay Boundary A, Kootenay Boundary B / Lower Columbia-Old-Glory, Kootenay Boundary C / Christina Lake, Kootenay Boundary D / Rural Grand Forks, Kootenay Boundary E / West Boundary, Ladysmith, Lake Cowichan, Lantzville, Lillooet, Logan Lake, Lumby, Lytton, Mackenzie, Masset, McBride, Merritt, Midway, Montrose, Mount Waddington A, Mount Waddington B, Mount Waddington C, Mount Waddington D, Nakusp, Nanaimo, Nanaimo A, Nanaimo B, Nanaimo C, Nanaimo E, Nanaimo F, Nanaimo G, Nanaimo H, Nelson, New Denver, New Hazelton, North Coast A, North Coast C,...

Individuals with a Registered Retirement Savings Plan (RRSP); Tax filers with RRSP contributions by sex, age and income groups (preliminary T1 Family File; T1FF).

Income quintiles are assigned based on equivalized household disposable income, which takes into account differences in household size and composition using a method proposed by the Organization for Economic Co-operation and Development (OECD). The OECD-modified" equivalence scale assigns a value of 1 to the first adult Age groups refer to the age group of the major income earner. This refers to the main source of income for the household, that is, wages and salaries, self-employment income, net property income, current transfers received related to pension benefits, or other current transfers received from non-pension related sources.
Self-employment income refers to mixed income related to non-farm and farm businesses. Household rental income is not included. Revenues from Current transfers received - pension benefits relate to current transfers received from corporations for employer's pension plans and current transfers received from government for the Canada and Québec pension plans (CPP/QPP) and the Old Age Security program including the Guaranteed Income Supplement (OAS/GIS). Revenues from Current transfers received - others, relate to all other current transfers received not included in Current transfers received - pensions benefits, that is, it includes current transfers from the government sector except for the Canada and Québec pension plans (CPP/QPP) and from the Old Age Security Program (OAS) and the Guaranteed Income Supplement (GIS). It also includes current transfers from Non-profit institutions serving households (NPISH) and from the non-residents sector. Owner/Renter refers to the housing tenure of a household. Households that have subsidized rents (partially or fully) are included under Renter. Distributions by generation are defined as follows and are based on the birth year of the major income earner : pre-1946 for those born before 1946, baby boom for those born between 1946 and 1964, generation X for those born between 1965 and 1980 and millennials for those born after 1980. Note that generation Z has been combined with the millennial generation as their sample size is relatively small. Distribution of value" is the share of a component of income Value per consumption unit reflects the Statistics value" divided by the number of consumption units

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Wealth Management Market Size 2025-2029

The wealth management market size is valued to increase by USD 460.1 billion, at a CAGR of 8.5% from 2024 to 2029. Rising number of HNIs globally will drive the wealth management market.

Market Insights

North America dominated the market and accounted for a 40% growth during the 2025-2029.
By Business Segment - Human advisory segment was valued at USD 364.50 billion in 2023
By End-user - Banks segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 94.18 billion 
Market Future Opportunities 2024: USD 460.10 billion
CAGR from 2024 to 2029 : 8.5%

Market Summary

The market is a dynamic and evolving industry that caters to High Net Worth Individuals (HNIs) worldwide. With the increasing global wealth, the demand for comprehensive financial planning and investment management solutions has surged. Technological advances have significantly influenced the market, enabling digital platforms, robo-advisory services, and data analytics to streamline operations and enhance client experiences. However, this technological shift has also put pressure on pricing structures, compelling wealth management companies to reconsider their business models and offer competitive pricing. One real-world business scenario illustrates this trend: a multinational corporation optimizing its supply chain to reduce costs and increase efficiency. The company's CFO, seeking to minimize financial risks and maximize returns, engages a wealth management firm to manage its surplus cash. The firm, in turn, utilizes advanced technology to analyze market trends and identify investment opportunities, offering the corporation a personalized investment strategy. This collaboration not only reduces the corporation's operational burden but also ensures optimal returns on its cash reserves. In conclusion, the market is driven by the growing number of HNIs, technological innovations, and the need for operational efficiency. The industry continues to evolve, presenting both opportunities and challenges for companies to adapt and thrive.

What will be the size of the Wealth Management Market during the forecast period?

Get Key Insights on Market Forecast (PDF) Request Free SampleThe market continues to evolve, with financial institutions increasingly leveraging advanced technologies to cater to the unique needs of high net worth individuals and families. One notable trend is the integration of machine learning algorithms and financial data analytics to enhance portfolio construction and risk tolerance assessment. According to recent research, the use of these technologies in wealth management has led to a significant improvement in net present value calculations for clients. For instance, portfolio optimization through quantitative models has resulted in a 25% increase in average annual returns for clients, compared to traditional methods. Furthermore, wealth managers are expanding their offerings to include insurance investment strategies, retirement income planning, and responsible investing. Compliance monitoring tools, fee benchmarking, and investment policy statements are essential components of this evolving landscape. In fact, a recent study indicates that 70% of wealth management firms have implemented compliance monitoring tools to ensure adherence to regulatory requirements. Moreover, the shift towards cloud-based solutions for client communication and data security is gaining momentum. Information security management and data breach prevention are critical concerns for wealth management firms, with 80% of firms reporting that they have experienced a data breach in the past year. To address these challenges, firms are investing in advanced cybersecurity measures and implementing strict access controls. In summary, the market is undergoing significant transformation, driven by technological advancements and changing client expectations. Firms that prioritize innovation and adapt to these trends will be well-positioned to provide superior services and meet the evolving needs of their clients.

Unpacking the Wealth Management Market Landscape

In the dynamic the market, client onboarding procedures have seen significant improvements, with due diligence processes reducing average onboarding times by 30%. Portfolio rebalancing, a critical component of effective investment management, has become more efficient, with automated systems enabling real-time adjustments and minimizing potential deviations from target asset allocations by up to 15%. Data security protocols have become a top priority, with regulatory compliance systems ensuring alignment and reducing potential fines by 25%. Fee structures have evolved, with alternative investment strategies like private equity and hedge funds increasingly popular due to their potential for highe