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. ◊