2022 PIMCO Canada Defined Contribution Consulting Study

Seeking to help consultants, advisors and plan sponsors understand current views and trends within the DC marketplace.

The Report

Our Canadian study is an exciting extension of the PIMCO US DC Consulting Study, which for 16 years has been one of the premier consultant studies in the DC industry, capturing data, trends, and opinions from leading defined contribution (DC) consultants and advisors on various timely topics.

To view the results of our U.S. study, visit the U.S. DC Consulting Study page.

  • 12 Major Recordkeeping and Consulting Firms

  • Over 36,000 Clients Served

Plan Sponsor Clients View on Retaining Retiree Assets in Plan

Respondents split on plan sponsor views regarding retaining retiree assets.

Institutional Consultants

Actively seek to retain these assets 7%, Prefer retaining these assets but do not actively encourage 16%, Indifferent 24%, Prefer retirees move assets out 53%


Actively seek to retain these assets 17%, Prefer retaining these assets but do not actively encourage 19%, Indifferent 21%, Prefer retirees move assets out 44%
  • Actively seek to retain these assets
  • Prefer retaining these assets, but do not actively encourage    
  • Indifferent
  • Prefer retirees move assets out

Question to Consultants: Approximately what percent of your plan sponsor clients take the below view on retaining retired participants' assets in their plan? (n=11)

Reasons for Moving Retirees Assets out of Plan

Fiduciary duty and responsibility are the main reasons for moving retirees out of plan.

Regulations or fiduciary duty


Prefer not to manage retiree assets/unwilling to assume responsibility


Lack of potential solutions


Plan requirement to move assets out


Question to Consultants: In your opinion, what is the main reason plans move retirees out of plan, post-retirement? (n=12)

Analyst Note: "Plan members financial literacy" was an option but was not selected.

Important Features of Retirement Income Solutions

Record-keepers and Consultants believe that the most important feature of retirement income is ease for participants to understand.

Should be easy for a participant to understand

82% 18% 0% 0% 0%

Should provide inflation protection

18% 73% 9% 0% 0%

Should pose limited fiduciary risk to the plan sponsor

36% 45% 9% 9% 0%

Should provide non-guaranteed income

27% 45% 27% 0% 0%

Should provide distribution/payment on a monthly basis

36% 18% 45% 0% 0%

Should be portable to a new recordkeeper/plan

27% 27% 36% 9% 0%

Distributions should be comprised of portfolio income and the return of capital (may include capital gains)

9% 45% 45% 0% 0%

Should be highly liquid

9% 45% 36% 9% 0%

Should have a stated distribution objective

18% 27% 36% 18% 0%

Should provide guaranteed income

18% 27% 55% 0% 0%

Distributions should be comprised primarily of portfolio income, while allowing retirees the optionality to draw down capital if desired

9% 36% 36% 18% 0%

Should be portable to a Rollover TFSA

0% 27% 36% 36% 0%
  • Strongly agree
  • Somewhat agree
  • Neutral
  • Somewhat disagree
  • Strongly disagree

Question to Consultants: Please indicate you level of agreement with the following statements related to in-plan retirement income solutions...(n=11)

Analyst Note: "Strongly disagree" was an option but was not selected

Key Findings

Download PIMCO Canada’s DC Consulting Study key findings report for the latest trends and the supporting data.


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The survey results contain the opinions of the respondents at the time of the survey and may not reflect current opinions or investment strategies. These results may or may not match the views of PIMCO and are not intended to be reflective of PIMCO's opinions on the market or any particular investment style or strategy.

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