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.
Federal tax rules are preventing many Canadians—especially those in the private sector—from saving enough for retirement, according to a report released by the C.D. Howe Institute and co-authored by James Pierlot, a member of Benefits Canada’s online expert panel. The report, Legal for Life: Why Canadians Need a Lifetime Retirement Saving Limit, says that workers […]
Canadian pension plans may have more members, but their numbers make up a smaller percentage of the overall labour force. And while the number of DB plans in the private sector has significantly decreased in favour of DC and hybrid plans over the last decade, the number of DB plans in the public sector has […]