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Average RRSP contribution down $26

The average RRSP contribution was $3,518 this year, down $26 from last year, according to a recent survey conducted by Pollara. 

Although contribution dollars dwindled, people who received refunds planned to put the money to work:

  • 36% Save or invest
  • 26% Pay down non-mortgage debt
  • 18% Pay down mortgage
  • 16% Travel or purchase leisure items
  • 10% Home renovations/household expenses

The survey all indicated that just 65 per cent of Canadians made contributions to their RRSP at all. ◊