RRSP myths prevail as Canadians rush to contribution deadline: Dale Jackson

A new survey from Edward Jones shows just over half of Canadians plan to make a registered retirement savings plan contribution before the March 1 deadline.

That’s a big jump from 33 per cent in last year’s survey; suggesting Canadians are emerging from the pandemic ready to tackle the future and - in most cases - reap a handsome tax refund in the spring.

The RRSP has become a primary source of retirement savings for most Canadians since its introduction in 1957.

It has also become a primary source of myths and misunderstandings as the finance industry jockeys for the billions of dollars in RRSP savings.