Manitobans contribute least to RRSPs: report
Statistics Canada finds Manitobans contribute least to RRSPs out of all Canadians
CBC News
Posted: Mar 1, 2013 2:44 PM CST
Last Updated: Mar 1, 2013 6:45 PM CST
Related
Winnipeggers got their last chance Wednesday to tuck away retirement savings for the 2012 tax year.
Wayne Cadogan is a regional director at Investors Group and said on March 1 he always sees a last-minute push from Winnipeggers to invest before the deadline.
“We try to get our clients to invest over the course of the year, but some clients leave it until the last day, and as a result we have a lot of business coming today,” said Cadogan.
But Statistics Canada says Manitobans aren’t putting as much into RRSPs as people in other provinces.
Manitoba had the lowest media RRSP contribution rate at about $2,300.
Cadogan said the numbers surprised him.
“This year has definitely been a bigger upswing with clients investing money. The markets have bounced back and that has given our clients a lot more confidence,” said Cadogan.
He said Manitoba’s low rates of contributions compared to other provinces could be due to a lack of financial education in the province.
“I think when you see statistics like that sometimes it’s just a function of education, and perhaps we need to do a better job in educating our clients,” said Cardogan.
He said Manitobans should sit down with a financial advisor to find out what investments are best for them.
Share Tools
Latest Manitoba News Headlines
- Identity crisis plagues Jets
- Twenty-one games in to a shortened season and the Jets are facing every NHL club's biggest fear: an identity crisis. more »
- Winnipeg police seek suspects in bar robbery
- Winnipeg police are searching for several suspects after a hotel bar in the city was robbed just after midnight. more »
- Man charged in reserve shooting
- A man from the Pine Creek First Nation is facing several charges including attempted murder after a shooting the community. more »
- Farmers near Lake Manitoba flooded in 2011 still waiting for money
- Grain and cattle farmers near Lake Manitoba are still waiting on government compensation, after their land was deliberately flooded in 2011. more »
Top News Headlines
- Egypt's politician skewer, testing the limits of post-revolution satire
- Meet Egypt's Jon Stewart, a former heart surgeon turned late-night TV host whose biting satire has not endeared him to the country's political class. But, as Nahlah Ayed reports, comedian Bassem Youssef may be the revolution's real star. more »
- Quebec papal contender 'ready' but wary of media spotlight
- Quebec Cardinal Marc Ouellet talks about his life and the possibility of becoming the next pope in an exclusive interview with CBC's Chief Correspondent Peter Mansbridge. more »
- B.C. Liberals emergency cabinet meeting underway
- Eighteen Liberal cabinet ministers have gathered to meet with Premier Christy Clark at an emergency cabinet meeting in Vancouver. more »
- Body of man found in home where police officer was killed
- The lifeless body of a man has been found inside a home in northern Quebec, ending a 17-hour standoff that left one police officer dead and another seriously injured on Saturday night. more »
- Southern Manitoba under snowfall warning
- Revenue Canada tax office in Winnipeg damaged by fire
- Winnipeg police seek suspects in bar robbery
- 3 people charged for using bear spray
- Winnipeg man, 38, stabbed at hotel
- Man charged in reserve shooting
- Farmers near Lake Manitoba flooded in 2011 still waiting for money
- Identity crisis plagues Jets
- Winnipeg police look for suspects in minister mugging

