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Benefits January 26, 2012
One Third of 40-Something Canadians Have Yet to Open an RRSP
January 26, 2012 (PLANSPONSOR.com) - One third of Canadians in their 40s (32%) admit they haven't yet opened a registered retirement savings plan (RRSP) even though they realize they should.
Reported by Tara Cantore
According to the TD Retirement Savings Poll, less than half of Canadians in their 40s (46%) contribute annually to an RRSP, and only 12% say they make the maximum contribution every year. As a result, 38% are concerned they aren’t saving enough for retirement.
The poll found women in their 40s are more likely to say they have not opened an RRSP (36%) versus men in their 40s (29%).
TD Bank Group commissioned Environics Research Group to conduct a custom, online survey of 1,006 Canadians ages 25-64 who are not retired. Results were collected between November 22 and December 2, 2011.
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