Many pension plan sponsors hear from members that one of their biggest challenges is finding room in their finances to make regular plan contributions. Canadians have that same challenge with their RRSPs, too.
Recent polls suggest that Canadians aren’t using two potentially valuable retirement savings vehicles to their full potential.
One-third of Canadians report having dipped into their RRSPs.
There’s nothing like a good debate—especially when it concerns saving money.
Canadian employers are listening to their employees' concerns about achieving retirement income adequacy and are finding new and better ways to encourage retirement savings, according to a survey by Benefits Canada and the Canadian Institutional Investment Network, and sponsored by Great-West Life Assurance Company.
The RRSP deadline has come and gone, and here are the results: Only four in ten Canadians made the RRSP contribution for 2011, according to BMO Annual Post-RRSP Deadline Study.
Battered financial markets and anaemic economic growth have forced Canadians to make debt management, not retirement, the primary focus of financial planning.
Despite the market challenges of 2011, Canadians say they will keep on contributing to their RRSPs. A BMO Financial Group survey finds almost 70% of Canadians plan on contributing more or the same amount to their RRSP this year compared to last year. In 2010, Last year, the average of RRSO contribution was $4,700.
Canadians have some financial literacy, but they are far from being straight A students. That’s the result of BMO Financial Group’s inaugural BMO Financial Literacy Report Card, which gauges the personal finance knowledge of Canadians.
A recent survey of Canadians found that 83% of those planning to make an RRSP contribution intend to contribute at least as much as they did last year. How much did Canadians contribute for the 2010 tax year? Not surprisingly, far less than they could have.