TORONTO, ONTARIO — (Marketwire) — 03/04/12 — BMO Financial Group today released the findings of its Third Annual Post-RRSP Deadline Study, which found that almost one-third (32 per cent) of residents of Atlantic Canada had or planned to contribute to their Registered Retirement Savings Plans (RRSPs) before the February 29th deadline. This represents a slight increase over last year-s regional contribution rate of 30 per cent but is lower than this year-s national contribution rate of 38 per cent.
The study also found that:
“It-s encouraging that a third of Atlantic Canadians made saving for retirement a priority this year and decided to make a contribution to an RRSP,” said Brian Wood, Investment Sales Manager, Nova Scotia, BMO Financial Group. “Increasingly, the onus is on Canadians to take personal responsibility for their retirement. Making regular contributions to savings vehicles such as RRSPs and TFSAs can play a critical role in helping secure your retirement.”
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.
(i)Represents a small sample size
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 Contacts:
Amanda Robinson, Toronto
416-867-3996
Sarah Bensadoun, Montreal
514-877-8224