RRSPs: Do you plan to contribute to yours this year?
- January 13, 2011 3:43 PM |
- By POV
By CBC News
The Quebec government does not plan to force its residents to save for retirement despite a new report suggesting that most Quebecers are not saving enough for that day.
The report, released Wednesday by a research group headed by Claude Castonguay, suggests that 60 per cent of Quebec workers will not be able to maintain their current lifestyles when they retire.
The study calls on the government to set up a mandatory RRSP-style plan (registered retirement savings plan) for Quebecers over the age of 35 who are not covered by a corporate pension plan.
Castonguay said Quebecers over that age who are not contributing to a corporate pension plan should be required to put five per cent of their annual wages into an RRSP. The money would be locked in until they retire or buy a house.
Read more.
We're curious: Do you save a certain amount of money each year toward your retirement fund? Should RRSPs be mandatory? Take our survey and tell us what you think in the comments section below.
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