News Releases

- Residents in Manitoba and Saskatchewan lead country in RRSP adoption

- More than 40 per cent have or will be making a contribution to an RRSP this tax year

- Prairie Provinces are the most optimistic when it comes to their outlook for the financial markets

- However, more than three quarters are concerned about the performance of their RRSPs given current financial markets

- Three-in-five Albertans are confident in their ability to save for their ideal retirement lifestyle-making them among the most confident in Canada

- Yet, almost half of those surveyed do not plan to make an RRSP contribution this tax year

- Seventy-eight per cent of Albertans express concern over the performance of their RRSP, given market volatility and the state of the economy

- Almost 60 per cent of B.C. residents believe they are on the right path to realize their ideal retirement lifestyle

- However, 72 per cent are worried about the performance of their RRSPs given the current state of the economy

- B.C. residents most likely in Canada to contribute less to their RRSP than last tax year

- One-in-three lack confidence in their ability to save for retirement - twice as many as during the 2010 tax year

- More than two-thirds express concern over the performance of their RRSP, given market volatility and the state of the economy

- Almost 70 per cent of Canadians plan on contributing more or the same amount to their RRSP this tax year compared to last

- In 2010 the average RRSP contribution was $4,700

- Almost two-thirds of Quebecers feel confident in their ability to save for their ideal retirement lifestyle

- Forty per cent have or will be making a contribution to an RRSP before the February 29, 2011 deadline - above the national average

- More than half either feel the same or are more optimistic about the markets compared to last year

- However, more than 60 per cent are concerned about the performance of their RRSPs

- Fewer than 20 per cent of Canadians believe employers will invest in training and development-down from 33 per cent in 2010.

- Only 17 per cent think employers will hire new talent in 2012 compared to almost 30 per cent last year.

- Canadians expectations for workforce investments are significantly lower than employers' stated intentions for the New Year.

- Extended family members can play an important role in helping ensure the long-term financial well-being of a Canadian with a disability

- The holiday season is an excellent time for family to discuss the long-term financial needs of a relative with a disability

- BMO Holiday Spending Survey shows consumers are better prepared for holiday shopping now than in 2010, with most planning weeks or months in advance

- However, 11 per cent of Canadians still consider themselves last-minute shoppers

- Men more likely to leave gift shopping until the last minute (13 per cent vs 8 per cent of women)

Canadian spending showing serious signs of life

- 94 per cent of Canadians believe it's important to buy locally grown produce and wine on a regular basis

- Agricultural sector accounts for approximately eight per cent of Canada's total Gross Domestic Product

- Canadians will donate an average of $487 in 2011

- Charitable donations usually spike during the holiday season and so do fraudulent charity schemes

- It's critical for Canadians to do their due diligence before making a donation

- Canadians expect to spend $1397 this holiday season

- Gift giving spend decreases while holiday entertaining spending accounts for the biggest year-over-year increase - up by more than $100

- Albertans set to spend the most on average on gifts

- BMO study finds that most grandparents give approximately $100 a year in gifts to each of their grandkids

- A holiday gift of $100 a year from each set of grandparents to an RESP can provide a child with up to $11,000 for their post-secondary education

- Current cost of a four-year degree can be up to $60,000; it could be as high as $140,000 for a child born in 2011

- BMO offers advice on how to maximize education savings

Writing a story on retirement or investing? Need some background, a quote, a different perspective?

Call the BMO RRSP Media Hotline at 1-866-298-8385 or e-mail Rachael McKay at rachael.mckay@bmo.com

Paying down household debt and holiday gifts top uses for year-end bonuses

- 29 per cent of working Canadians expect to receive a year-end bonus

- 79 per cent of those who anticipate receiving a bonus believe it will be the same or more than last year

- Over half of Canadians who expect to receive a year-end bonus will use the money to pay down household debt

- Over 78,000 franchises across Canada employ more than 1 million people

- Franchising accounts for over 10 per cent of Canada's GDP

- Franchised businesses account for over 40 per cent of all retail sales

BMO Reiterates that the 25 Year Amortization is the Right Mortgage for Right Now

- Only 37 per cent of Canadian parents have appointed a guardian

- 80 per cent of parents would look to family when choosing a guardian

- Majority don't know how much money they would leave to a guardian to cover additional expenses

- The holiday season is an excellent time to begin discussing guardianship with family and friends