RRSP usage slipping among 18- to 34-year olds - MoneySense

RRSP usage slipping among 18- to 34-year olds

However, use among Canadians in general is up 7%

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The number of Canadians aged 18 to 34 who have RRSPs has fallen to a 10-year low, according to a survey.

The Royal Bank of Canada’s poll finds that only 39% of those in the demographic use RRSPs while 45% have yet to begin saving for retirement.

Instead, they are focused on paying down debt and saving for a rainy day or a home.

However, the overall number of Canadian adults who have RRSPs climbed to 61% last year, up from 54% in 2009.

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