Benefits February 18, 2002
Self-Employed Canadians Better Retirement Savers
February 18, 2002 (PLANSPONSOR.com) - Self-employed
entrepreneurs are not only more likely to participate in a
retirement savings plan, more of them save at higher levels
than traditional paid workers.
Reported by Fred Schneyer
That was the result of a recent Canadian study by economist Benjamin Tal. According to a press release, Tal found that:
- Approximately 70% of self-employed workers contribute to a plan versus just under 60% of employees of other companies.
- Self-employed workers are also three times more likely than the average Canadian to contribute in the highest brackets. According to Tal, 25% of the self-employed workers studied contributed between $10,000 and $25,000 while the number of average Canadians saving at that level was about 10%.