Nearly half of Canadians still expect to make an RRSP contribution: survey
BNN Bloomberg
New data shows that nearly half of Canadians expect to contribute to a registered retirement savings plan (RRSP) this year, despite higher interest rates and elevated inflation.
Survey data from Edward Jones Canada, released Tuesday, found that 49 per cent of Canadians still believe they will contribute to their RRSP this year amid uncertain economic conditions. However, only 21 per cent of respondents indicated they plan to contribute their maximum amount.
“It’s clear that amid the current economic climate, Canadians prefer to stick to what they know by contributing to their RRSP this year,” Julie Petrera, a senior strategist at Edward Jones, said in a press release Tuesday.
Feb. 29 is the deadline for investors looking to deduct RRSP contributions from their 2023 taxable income.
