RRSP deadline today
Posted Mar 1, 2013 07:04:56 AM.
This article is more than 5 years old.
A new study says nearly two-thirds of Canadians polled have made or plan to make an R-R-S-P contribution by today’s deadline, but with fewer amounts than last year.
The Bank of Montreal survey found that 63 per cent of respondents have contributed or will contribute to an R-R-S-P for the 2012 tax year, up from 38 per cent last year.
But the average contribution amount was $3,544, down $1,100 from 2012.
B-M-O says that’s probably because Canadians are trying to juggle their financial priorities, which may also include lowering their debt.
The survey found that a sense of responsibility was the top motivator for making an R-R-S-P contribution this year with 51 per saying it’s the right thing to do.
B-M-O says Canadians may be turning the corner in terms of their reliance on government or employer pensions, inheritances or thoughts of winning the lottery and are taking responsibility for retirement themselves.
