LONDON, ON, Feb. 13, 2014 – With the Registered Retirement Savings Plan (RRSP) deadline approaching on March 3, questions remain about whether Canadians will be making adequate contributions this year.
A recent survey from Scotiabank and Bank of Montreal shows fewer Canadians are planning to put money into RRSPs, due to other expenses, such as paying down debt.
Rick Robertson, Associate Professor of Finance, is available to comment on ways people might manage their escalating debt, the importance of investing in savings vehicles such as RRSPs or Tax-Free Savings Accounts (TFSAs), and the pros and cons of RRSPs and TFSAs.
He points out that one of the issues is that people only focus on saving for retirement when the RRSP deadline draws near, instead of all year.
“For most people, the fear of focusing on this once a year is a problem. The second problem is, where do they come up with money for it?,” he said.
Robertson is an expert on estate planning, accounting for corporate income taxes and the provision of pension benefits by corporations.
To arrange an interview with Robertson, contact Ivan Langrish, Senior Manager Media Strategy at ilangrish@ivey.ca, or call 416-203-0664.
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