TORONTO, ONTARIO — (Marketwire) — 03/04/12 — BMO Financial Group today released the findings of its Third Annual Post-RRSP Deadline Study, which found that, despite ongoing volatility in the financial markets, Quebecers contributed an average of $5,318 this year to their Registered Retirement Savings Plans (RRSPs). This represents a 42 per cent increase over last year.
Other key findings from Quebec:
“It-s very encouraging that, despite the instability we-ve seen in the markets, forty per cent of Quebec residents made saving for retirement a priority by making a contribution to their RRSP this year,” said Jamal Khalil, Regional Sales Manager, Quebec, BMO Bank of Montreal. “Moreover, they increased their contribution from last year, demonstrating an understanding of the importance of taking ownership of their retirement by saving through vehicles such as RRSPs.”
Key National Findings:
“Many Canadians are financially stretched and saving for retirement often gets pushed down the list of priorities,” said Tina Di Vito, Head of the BMO Retirement Institute. “However, saving for retirement doesn-t have to happen all at once. The key is to make regular contributions to your RRSP, regardless of the amount. You-ll be surprised how quickly your nest egg will grow over time.”
BMO offers advice on how to find those extra dollars for your RRSP:
For more information on planning for retirement, please visit .
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The survey was completed online from February 21, 2012 to February 23, 2012, using Leger Marketing-s online panel, LegerWeb, with a sample of 1,500 Canadians. A probability sample of the same size would yield a margin of error of +/- 2.5%, 19 times out of 20.
About BMO Financial Group
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly-diversified North American financial services organization. With total assets of $538 billion as at January 31, 2012, and more than 47,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.
Contacts:
Media Contact:
Sarah Bensadoun, Montreal
514-877-8224