Table 6
Number of tax filers contributing to both RRSP and TFSA, total value of contributions and median contribution amount, by age 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 25 years old | 75,390 | 287,540 | 2,240 | 493,965 | 4,500 | 781,510 | 7,560 |
| 25 to 34 years | 525,470 | 3,717,930 | 4,000 | 4,493,045 | 4,500 | 8,210,975 | 10,000 |
| 35 to 44 years | 587,280 | 5,237,115 | 4,700 | 5,438,295 | 4,470 | 10,675,405 | 10,840 |
| 45 to 54 years | 565,710 | 6,099,755 | 5,280 | 6,170,940 | 6,000 | 12,270,690 | 12,820 |
| 55 to 64 years | 593,410 | 7,892,635 | 6,000 | 7,684,595 | 6,500 | 15,577,235 | 15,300 |
| 65 to 74 years | 186,090 | 2,975,570 | 6,000 | 2,686,190 | 6,500 | 5,661,760 | 16,400 |
| 75 years and older | 9,100 | 134,890 | 930 | 158,390 | 6,500 | 293,280 | 10,800 |
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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