1 rrsp

Year RRSPs Introduced in Canada:           1957

Prime Minister who introduced RRSPs: Louis St. Laurent

Maximum Annual Contribution in 1957:      $2,500

Maximum Annual Contribution in 2013:      $23,820

First Year of Canada Old Age Pension:      1927

Maximum Monthly Benefit in 1927:            $20

2013 Maximum Old Age Security Benefit:  $550.99

% of eligible taxpayers making RRSP contribution in 2011: 25%        

% of Disposable Income Saved by Canadians:       4%

Average RRSP contribution in 2013:          $3,544

Average Annual Spending on Beer Wine & Liquor:  $724

Canadians Unused RRSP Contribution Room:        $700 Billion

% of Canadians Relying on Savings and Investments for Retirement:             34%

% of Canadians Relying on Lottery Win for Retirement:       32%

Average Annual Household Spending on Lottery Tickets:                   $265

Chances of Winning Major Lottery:             1 in 13.9 million  

 

Sources: Statistics Canada; Human Resources Canada; CRA;  BOM; Environics