RRSP contributions rose to $37.4 billion in 2013, a 4.8% increase from 2012, says Statistics Canada.
The numbers are based on tax returns filed for 2013.
Just under six million tax filers contributed to an RRSP in 2013, virtually unchanged from 2012. The percentage of tax filers who contributed to an RRSP edged down to 23.4% in 2013 from 23.7% in 2012.
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Regionally, the highest percentage increases in the number of contributors to RRSPs occurred in Alberta (+2.7%), Newfoundland and Labrador (+2%) and Yukon (+1.2%).
Total contributions increased in every province and territory, led by Newfoundland and Labrador (+11.4%), New Brunswick (+11.3%) and Alberta (+8.2%).
Nationally, the median contribution was $3,000, up 2.4% from 2012. In other words, half of the tax filers reporting RRSP contributions reported more than $3,000, and the other half reported less than $3,000.
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Nunavut had the lowest percentage of tax filers who contributed to an RRSP (11.4%), but those tax filers who did contribute made the highest median contribution to RRSPs ($4,740). Alberta had the second highest median contribution to RRSPs ($3,600), followed by Yukon ($3,590) and the Northwest Territories ($3,300). Manitoba had the lowest median contribution at $2,360.
Among census metropolitan areas, Calgary had the highest median RRSP contribution ($4,200), followed by Vancouver ($3,600) and Toronto ($3,550). Historically, these three areas have had the highest median RRSP contributions. The lowest median RRSP contributions were in Winnipeg ($2,330), followed closely by Kingston, Peterborough, St. Catharines–Niagara, Brantford and Barrie (each with $2,400).
The fixed maximum RRSP contribution in 2013 was $23,820, up from $22,970 in 2012.
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