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Administration February 1, 2002
Canadian Retirement Investors Standing Pat
January 2, 2002 (PLANSPONSOR.com) - Canadians will
make few changes to their retirement saving plans in the RRSP
season, according to a poll by Manulife Financial.
Reported by Camilla Klein
According to the survey,
- over 80% of the sample have not made changes to their investments amid the market volatility in the wake of September 11,
- just under 80% made no changes to their overall investment style,
- less than 3% have changed all or many of their investments since the attacks
In addition:
- 42% of those polled see strong potential growth in the stock market in the year ahead, and
- 33% are concerned about their long-term investments and plan no further investments until they can see which way markets are headed
RRSP Investors
Of the 77% of the sample who invest in RRSPs,
· more than four out of five plan to make a
contribution for the 2001 tax season,
· only 16% said they do not plan to make a
contribution,
· 2% refused to answer
Among those with RRSPs,
- 46% say they are now making regular contributions to their RRSPs,
- 28% plan to make a lump sum contribution before the end of February to qualify for a 2001 tax year deduction
The sample comprised 1,003 Canadians, aged 18 years and older. The poll was taken between November 28 and December 2, 2001.