Taxes a top threat to retirement security, Investors Group polls find

    Apprehension growing as the taxman cometh

    WINNIPEG, March 25 /CNW/ - Despite hit and miss stock market returns and
an economic downturn, some things don't change. According to new research by
Investors Group, high income and property taxes continue to be seen as top
threats to Canadians' retirement security. High taxes are viewed with the
greatest apprehension (46 per cent), outstripping concerns about inflation,
currency fluctuations, poor stock market returns (39 per cent), and fear of
job loss (33 per cent).
    The concern about high taxes is a consistent finding in a series of three
polls conducted by Investors Group beginning September 2008. High income and
property taxes are seen as the number one threats to retirement security, with
45 per cent of respondents citing taxes in September, dipping to 40 per cent
in October, before jumping to 46 per cent in the recent survey conducted in
early March.
    "Taxes can have a significant impact on investors whether saving for
retirement or in later years when living on fixed income," said Jack Courtney,
Assistant Vice-President, Advanced Financial Planning at Investors Group. "It
pays to employ tax saving strategies that can help cut tax bills in future
years or help mitigate the impact of taxes when withdrawing from investments."
    According to Courtney, investment vehicles such as RRSPs, Tax Free Saving
Accounts and corporate class funds can help minimize taxes while allowing
investments to grow at a faster rate. Retired individuals should consult a
planner to help decide the most tax-efficient approach to withdrawing funds,
how to avoid clawbacks and consider income pension splitting, for example.
    "Every dollar saved is a dollar earned, and this is especially true
during times like this," he said. "A professional planner can recommend
tax-efficient strategies that will ultimately put more money in your pocket
and leave less for the taxman."

    About the Survey Methodology: These data were collected through teleVox,
Harris/Decima's national telephone omnibus survey. These data were gathered
between March 5th and March 8th 2009. In total, 1,012 interviews were
completed. A sample of the same size has a margin of error of 3.1%, 19 times
out of 20. The margin of error is larger for specific regions and
demographics.

    Investors Group, founded in 1926, is a national leader in delivering
personalized financial solutions to Canadians through a network of
approximately 4,500 Consultants located throughout Canada. In addition to an
exclusive family of mutual funds and other investment vehicles, Investors
Group offers a wide range of insurance, securities, mortgage and other
financial services. Investors Group is a member of the IGM Financial Inc.
(TSX: IGM) group of companies. IGM Financial is one of Canada's premier
financial services companies with over $94 billion in total assets under
management.

For further information: Ron Arnst, Investors Group, (204) 956-3364,
ron.arnst@investorsgroup.com; Teresa Pagnutti or Meredith Adolph, Environics
Communications, (416) 969-2721, (416) 969-2667, tpagnutti@environicspr.com,
madolph@environicspr.com