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

- 49 per cent feel that they are on track to realize their ideal retirement lifestyle

- More than a quarter have or will be making a contribution to an RRSP before the February 29, 2012 deadline

- Almost half feel either the same or more optimistic about the financial markets going into 2012 compared to last year

- However, one-third believe they will have to delay retirement or work part-time during retirement

- Almost three-quarters of Ontarians plan on contributing the same amount or more to their RRSP during the 2011 tax year compared to 2010

- More than half are confident in their ability to save for their ideal retirement

- Given market volatility and the state of the economy, almost three-quarters of Ontarians are concerned about the performance of their RRSP

- 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)

- 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

- 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