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Millennials, Gen Z in Canada struggling to save for retirement, new data finds

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The number of Canadians contributing to registered retirement savings plans (RRSP) shrank in 2022, according to a new report from Statistics Canada.

Contributions declined for all age groups, but the decline was sharpest among those 25 to 44 years old.

Overall, RRSP contributions were down 3.4 per cent in 2022 when compared to the year prior.

Uday Rana crunches the numbers and finds out why saving for retirement is shaping up to be an uphill battle for younger Canadians.

For more info, please go to https://globalnews.ca/news/10396739/rrsp-contributions-2022-data/
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Category
U.S. & Canada
Tags
global news, RRSP contributions, saving for retirement
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