Paul Martin's Business Update - January 15th

Paul Martin's Business Update - January 15th

Residents of this province have always been known for saving. We earned that reputation over generations, many who were influenced by the effects of the Great Depression as reflected in the many stories about the tobacco tin containing cash hidden under a fence post.

It seems that tradition is still alive and well.

A new study released by Bank of Montreal on how we are doing in contributing to our RSPs for the current year turned up an interesting fact. The percentage of people in this province who actually have an RRSP is significantly higher than any other part of the country.

Saskatchewan and Manitoba came in with 81 per cent of the population having a registered retirement plan. That compares to 65 per cent in Alberta or 60 per cent in Atlantic Canada. We don’t, however, make the biggest contributions. At $3,800 last year, we were behind both Alberta and Atlantic Canadians.

Not only have more of us already made a contribution for this year, a greater percentage of Saskatchewan residents intend to put money into the plan than any other region.

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