Need a Source? Beware of making rush decisions to meet the RRSP deadline

Talk to the CEO of ING DIRECT about other options

TORONTO, Feb. 28 /CNW/ - With the RRSP deadline approaching quickly, many Canadians will find themselves making last minute decisions on how to save their money for retirement. Unfortunately some of them will rush to meet the RRSP deadline and later question whether they've invested in the right products. Now more than ever, it's important for Canadians to take more control of their investments, especially if buying typical high fee mutual funds.

Peter Aceto, President and CEO of ING DIRECT Canada, is available to comment on:

  • Balanced and diversified low-fee mutual fund investment options
  • Alternative registered investments which provide flexibility and reap tax benefits
  • The financial benefits of regular, automatic RRSP contributions

A recent survey* by Angus Reid, commissioned by ING DIRECT revealed:

  • One in three Canadians question whether they have invested in the right products for retirement (39%)
  • 77% of those surveyed spend two hours or less choosing their RRSP investments each year
  • 45% of Canadians are unsure of the average annual fee they pay for their mutual funds

ING DIRECT

ING DIRECT is Canada's leading DIRECT bank with over 1.7 million Clients and more than $29 billion in total assets. ING DIRECT gives the power of saving to all Canadians by offering high-value, simple products such as high interest savings accounts with no fees or service charges, and low rates on mortgages. Low cost, balanced, index-based mutual funds are sold through ING DIRECT Funds Limited. ING DIRECT has been operating in Canada since 1997, and paid more than $4.5 billion in interest to Clients. ING DIRECT is open for banking 24 hours a day, 7 days a week, at ingdirect.ca, on mobile devices at m.ingdirect.ca or by calling 1-800 ING DIRECT (1-800-464-3473).

Follow Peter Aceto on Twitter at: Twitter.com/CEO_INGDIRECT
And find ING DIRECT at: Facebook.com/SuperStarSaver; Twitter.com/SuperStarSaver; YouTube.com/SuperStarSaver

*From December 14, 2010 to December 15, 2010, Angus Reid Strategies conducted an online survey among a randomly selected, representative sample of 1,062 adult Canadians through the Angus Reid Forum. The margin of error for the total sample is +/- 3.1%, 19 times out of 20. The results have been statistically weighted according to Statistics Canada's most current education, age, gender and region Census data to ensure a representative sample of the entire adult population of Canada.  Discrepancies in or between totals are due to rounding.

SOURCE ING DIRECT

For further information:

To arrange an interview or for more information, please contact:

Amanda Petriglia or Lisa Naccarato
ING DIRECT
647-259-5797 / 416-758-5072
apetriglia@ingdirect.ca / lnaccarato@ingdirect.ca

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ING DIRECT

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