Fewer Canadians to Contribute to Retirement Savings Amid High Cost of Living: Poll

A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto, on Jan. 23, 2015. Reuters/Mark Blinch

An increasing number of Canadians say they are unable to save for retirement, with just 39 percent saying they plan to contribute to their RRSP this year, down from 49 percent in 2024.

According to the polling data from Edward Jones Canada, which surveyed 1,528 Canadians in January, the diminishing RRSP contributions reflect the “economic pressures faced by Canadians, particularly in the face of high living costs and debt burdens.”