74% of respondents chose to invest in an RRSP or a TFSA in the past
year, while 40% did not invest at all
QUEBEC CITY, Feb. 7, 2013 /CNW Telbec/ - As tax season always seems to
raise questions regarding which investments offer the best returns when
saving, Universitas Trust Funds decided to conduct a CROP survey
regarding the investment habits of Quebec residents. Results showed
that, over the past year, nearly three-fourths of Quebec's population
(74%) opted for traditional investment vehicles, namely the RRSP (37%)
and the TFSA (36%). However, over a third of the respondents did not
invest at all this year (37%); this is particularly true for women (42%
versus 32% for men). Other investment vehicles, such as the RESP
(Registered Education Savings Plan), real estate investments and equity
holdings, for their part, only represented a small percentage (8%
Average amounts invested by Quebec residents in the main types of
The RESP: A Little-Known Investment Vehicle
According to the survey, when respondents with children consider their
current financial situation, they are proportionally more likely to
favour the RRSP (35%) as their first choice, followed by the TFSA (18%)
and the RESP (8%). However, according to Universitas Trust Funds,
parents would benefit from investing in an RESP for their children
since they too will reap the rewards of this investment once their
children are ready to pursue a post-secondary education.
"Even if the RESP is an investment vehicle specifically designed to
accumulate funds for a child's post-secondary education, many parents
are unaware that the RESP can also be a solid and secure savings plan
for adults too," says Véronique Guimond, RESP specialist at Universitas
Trust Funds. "The capital invested in an RESP is returned in full to
the subscriber, who can then choose to give this amount to the child as
additional funds for school, or transfer it to an RRSP and enjoy the
benefits of both the RESP and RRSP," adds Ms. Guimond.
The survey also reveals that the knowledge of RESPs in Quebec is
limited; 67% of the respondents are unaware that both the provincial
and federal governments offer generous grants and incentives for RESP
investments. Only 7% of the respondents are aware that the total amount
of these incentives can reach $12,800* per child.
*Canada Education Savings Grant (CESG) of 20% to 40%; the Quebec
Education Savings Incentive (QESI) of 10% to 20%; and the Canada
Learning Bond (CLB) totalling up to $2,000. Amounts based on family
income. Certain conditions apply.
QUIZ: "What do you know about RESPs?"
Universitas Trust Funds has developed an interactive quiz to test
general knowledge of RESPs. The quiz consists of about 10 questions on
the RESP and is accessible at http://www.quizuniversitas.com/en. It is also possible to share your test score on social networks and
invite your friend to try the quiz, too.
Other interesting facts regarding popular investments vehicles in
The TFSA gains in popularity among respondents aged 55 or older. Over
the last year, nearly 46% of these respondents opted for this
On the other hand, nearly half the respondents aged 35-54 continued to
invest in their RRSP this year (47%);
Only 19% of the respondents knew that it is now possible to invest up to
$5,500 in an TFSA every year (whereas 36% believe that the limit is
still set at $5,000);
Francophones generally invested less over the past year than
non-Francophone respondents (27% versus 40%).
The survey was conducted by the CROP survey firm online via a Web panel,
from January 16 to 21, 2013. A total of 1,000 questionnaires were
completed. Results were weighted to reflect the distribution of Quebec's adult
population based on gender, age, region, language, education level, and the socio-cultural values of the respondents.
About Universitas Trust Funds
Established since 1964, Universitas Trust Funds is an RESP industry
leader at the service of families across the provinces of Quebec and
New Brunswick. The company's not-for-profit structure enables it to
concentrate all efforts on providing the highest possible scholarships.
With the mission to favour the pursuit of post-secondary education
through savings and scholarships or educational assistance payments,
Universitas Trust Funds manages close to $800 million in assets and has
paid out nearly $400 million in scholarships, EAPs and returned savings
to hundreds of thousands of deserving students. To learn more about our
products and services, visit universitas.ca.
SOURCE: Gestion Universitas inc.
For further information:
Lydia Juliano | Julie Deschambault
firstname.lastname@example.org | email@example.com
514 949-1446 | 514 891-8645
Tina Fournier Ouellet
Senior Manager, Communication and Public Relations
Universitas Management Inc.
418 651-8977, ext. 2320