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

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.

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