2012 RRSP FAST FACTS
About RBC's financial planning advice, resources and interactive tools
- More than half (55 per cent) of Canadians have an RRSP, in line with 54 per cent in 2009 and down from 60 per cent in 2011.
- Among those who plan to make a one-time contribution to their RRSPs, 27 per cent already did so in January/ February 2012; another one-in-four (25 per cent) plan to do so in February 2013.
- The average planned RRSP contribution for the 2012 tax year is $4,025 — its lowest level in four years.
- Among Canadians who have an RRSP, 73 per cent plan to contribute at least as much as what they contributed for 2011; almost half (46 per cent) of those aged 18-34 say they will contribute more for 2012.
- Only one-in-three RRSP investors (32 per cent) make regular contributions through a plan.
- Mutual funds remain the top planned RRSP investment choice (46 per cent) for the 2012 tax year, followed by Guaranteed Investment Certificates (24 per cent) and savings accounts (22 per cent).
The RBC Advice Centre offers free online advice, resources and tools regarding
retirement and estate planning
RSP-Matic® Savings Calculator
and updates on the federal government's RRSP
First Time Home Buyers' Plan
. In addition, RBC's
, a comprehensive online financial management tool, offers all personal RBC
clients the ability, at no cost, to create a set budget and track their spending habits and to access H&R Block tax-related apps in the new
, to help manage and plan their taxes.
About the 23 rd Annual RBC RRSP Poll
Annual RBC RRSP poll was conducted by Ipsos Reid
between October 24 and November 27, 2012
via a random sample of 1,225 Canadian adults in the general population (aged 18 and over). The results are based on samples where quota sampling and weighting are employed to balance demographics and ensure that the sample's composition reflects that of the actual population according to Census data. Quota samples with weighting from the Ipsos online panel provide results that are intended to approximate a probability sample. A weighted probability sample of 1,225 Canadian respondents, with 100 per cent response rate, would have an estimated margin of error of ±3 per cent, 19 times out of 20.