Boomers in Saskatchewan and Manitoba on Track with RSPs, but Aren't Planning for Retirement



    SASKATOON, SK and WINNIPEG, MB, Feb. 5 /CNW/ -

    
                            INTERVIEW OPPORTUNITY
                            ---------------------

    WHAT:  Boomers in Saskatchewan and Manitoba are well stocked when it
           comes to retirement savings. In fact, more people in central
           Canada have RSPs than anywhere else in the country, according to a
           previous BMO Financial Group/Ipsos Reid retirement study(*).

           Of central Canadians aged 45 to 60, 77 per cent have RSPs, well
           above the national average of 69 per cent. When asked what they
           are currently saving for, 75 per cent of boomers from Saskatchewan
           and Manitoba said retirement, compared to the national average of
           66 per cent.

           Yet, while these boomers are ahead with saving for retirement,
           more than half of them indicated that either they don't have a
           financial plan (27%) or that their plan is "in their head" (24%).
           For those boomers who have an RSP, 45 per cent consider it to be
           their financial plan.

           In fact, boomers from Saskatchewan and Manitoba are more likely
           than other boomers to spend their time planning exercise (54% vs.
           49%), diet (60% vs. 47%), home renovations (55% vs. 46%) and car
           maintenance (42% vs. 33%) than planning their retirement.

    WHO:   BMO Financial Group has local experts who can provide tips to help
           Central Canadians build their retirement plans. They can discuss:

              - What it takes to build a retirement plan and tips for getting
                started
              - How to determine how much you'll need in retirement and what
                you'll need to do now to reach your goals
              - Retirement planning tips for Gen Y and Gen X - it's never too
                early to start saving for your future
    

    (*)Based on an online survey conducted by Ipsos Reid for BMO Financial
Group between November 30-December 3, 2006 among a randomly selected sample of
1,411 respondents aged 45-60. The survey included 84 respondents in Manitoba
and Saskatchewan. A survey of this size would be produce a margin of error of
approximately 10.7%, 19 times out of 20.





For further information:

For further information: or to arrange an interview, contact: Lucie
Gosselin, Montreal, lucie.gosselin@bmo.com, (514) 877-1101; JoAnne Hayes,
Toronto, joanne.hayes@bmo.com, (416) 867-3996; Internet:
www.bmo.com/retirementyourway


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890