Feb, 24, 2012 – Canadians continue to struggle to take advantage of available RRSP room, according to a new report by RBC Economics.
Its 2012 RRSP report, Backing into the Future: Canada’s Declining RRSP Contribution Rates,’ indicate that contributions seem to be heading down to levels not seen since the 1970s.
The study shows that demographics are driving the low rate of contributions, but that house prices are also having an impact. As the cost of housing has increased, RRSP contributions have declined, leading to suggestions that real estate is acting as an alternative to other forms of investments, like RRSPs.
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