Table 4
Number of tax filers contributing to both RRSP and TFSA, total value of contributions and median contribution amount, by income group of tax filers, Canada, 2023
| TFSA and RRSP contributors – RRSPs and TFSAs | Total RRSP contributions – RRSPs and TFSAs | Median RRSP contributions – RRSPs and TFSAs | Total TFSA contributions – RRSPs and TFSAs | Median TFSA contributions – RRSPs and TFSAs | Total RRSP and TFSA contributions – RRSPs and TFSAs | Median RRSP and TFSA contributions – RRSPs and TFSAs | |
|---|---|---|---|---|---|---|---|
| number | thousands of dollars | dollars | thousands of dollars | dollars | thousands of dollars | dollars | |
| All tax filers | 2,542,450 | 26,345,430 | 5,000 | 27,125,415 | 6,150 | 53,470,850 | 12,240 |
| Less than $20,000 | 34,480 | 189,785 | 1,200 | 447,035 | 5,580 | 636,815 | 7,150 |
| $20,000 to $39,999 | 159,480 | 604,860 | 1,570 | 1,583,030 | 4,050 | 2,187,890 | 6,710 |
| $40,000 to $59,999 | 393,310 | 1,634,080 | 2,300 | 3,527,520 | 3,370 | 5,161,600 | 6,880 |
| $60,000 to $79,999 | 473,900 | 2,668,190 | 3,550 | 4,450,600 | 4,300 | 7,118,790 | 8,850 |
| $80,000 and over | 1,481,280 | 21,248,520 | 8,070 | 17,117,230 | 6,500 | 38,365,755 | 16,790 |
Note(s):
- RRSP = Registered Retirement Savings Plan.
- TFSA = Tax-Free Savings Account.
Source(s):
Income and Financial Data of Individuals, Preliminary T1 Family File (4106), custom tabulation.
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