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- Survey of Financial Security (4)
- Survey of Household Spending (3)
- Income and Financial Data of Individuals, Preliminary T1 Family File (3)
- Pension Plans in Canada (2)
- National Balance Sheet Accounts (1)
- Survey of Family Expenditures (1)
- Census of Population (1)
- Longitudinal Administrative Databank (1)
- Survey of Approaches to Educational Planning (1)
- Retirement Savings Data (1)
- Canadian Financial Capability Survey (1)
- Survey on Savings for Persons with Disabilities (1)
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All (26)
All (26) (0 to 10 of 26 results)
- Articles and reports: 36-28-0001202200900001Description:
Registered Education Savings Plans (RESPs) are an important vehicle to help families save for postsecondary education. However, large differences in RESP savings persist between families of different income levels, despite targeted incentives aimed at encouraging low- and middle-income families to open RESP accounts and contribute to them. This article documents the differences in RESP contributions between families with different levels of income and liquid wealth.
Release date: 2022-09-28 - Stats in brief: 11-629-X2022002Description:
This descriptive video provides an American Sign Language translation of the Daily for the Survey on Savings for Persons with Disabilities.
Release date: 2022-04-04 - Articles and reports: 36-28-0001202200200002Description:
A Registered Retirement Savings Plan (RRSP) is a tax-deductible savings vehicle designed to encourage people to save for their retirement. Contributions are made with pre-tax income, and taxation is deferred to the time when funds are withdrawn, typically in retirement when marginal tax rates are otherwise low, resulting in tax savings over the life cycle. However, RRSP funds do not lock in and there are no early withdrawal penalties by the tax system, which means pre-retirement withdrawals are frequent. This prevalence of pre-retirement RRSP withdrawals raises the question of what reasons, aside from retirement planning, lead people to use these plans. To explore this issue, new research by Statistics Canada and the Retirement and Savings Institute (RSI) at HEC Montréal considers how a person’s financial literacy affects the timing of contributions to and withdrawals from RRSPs.
Release date: 2022-02-23 - Articles and reports: 75F0002M2021003Description:
Canada has faced profound economic and social impacts as a result of the COVID-19 pandemic. This report brings together diverse findings which illuminate changes in quality of life since March 2020, and provides value added by examining these results through a well-being lens. Specifically, the paper describes how selected aspects of well-being have been affected during the pandemic, focussing on income and wealth (financial well-being and resiliency), knowledge and skills (technology and children and youth schooling), work-life balance (child care and family bonds), health (mental health and persons with disabilities) and environmental quality (connecting with nature close to home).
Release date: 2021-04-15 - Articles and reports: 13-605-X202000100006Description:
This study of data from the Distributions of Household Economic Accounts compares households' economic well-being from a macro-economic accounts perspective, as measured by net saving and net worth for each generation when the major income earner for a household in one generation reached the same point in the life cycle as the major income earner for a household in another generation. The study finds that while younger generations have higher disposable income and higher consumption expenditure than older generations when they reached the same age, their net saving is relatively similar. As well, younger generations' economic well-being may be more at risk due to the COVID-19 pandemic since they depend more on employment as a primary source of income, they have higher debt relative to income, and they have less equity in financial and real estate assets from which to draw upon when needed.
Release date: 2020-12-10 - Surveys and statistical programs – Documentation: 72-211-XDescription:
Data on investment income, Registered Retirement Savings Plan (RRSP) contributions and charitable donations are derived from income tax returns.The data for the products associated with this release are derived from an early version of the T1 file that Statistics Canada receives from Canada Revenue Agency (CRA).
Release date: 2018-02-14 - 7. T1 Family File, Preliminary Estimates ArchivedSurveys and statistical programs – Documentation: 72-211-X2018001Description:
Data on investment income, Registered Retirement Savings Plan (RRSP) contributions and charitable donations are derived from income tax returns.The data for the products associated with this release are derived from an early version of the T1 file that Statistics Canada receives from Canada Revenue Agency (CRA).
Release date: 2018-02-14 - Table: 98-400-X2016103Geography: Province or territory, Census metropolitan area, Census agglomeration, Census metropolitan area part, Census agglomeration partDescription:
This table presents household contributions to registered savings accounts and selected household characteristics for private households of Canada, provinces and territories, census metropolitan areas and census agglomerations.
Release date: 2017-09-13 - Articles and reports: 11-626-X2017071Description:
This Economic Insights article documents the characteristics of families with children under the age of 18 who hold registered education savings plan (RESP) investments. The article also examines the relationship between holding an RESP account at age 15 and postsecondary enrolment between the ages of 19 and 27. The data are drawn from the 1999 and 2012 Survey of Financial Security and from the Youth in Transition Survey, Cohort A, linked to the T1 Family File. Postsecondary enrolment is derived from education deductions and tuition credits in the tax data.
Release date: 2017-04-12 - 10. Which Families Invest in Registered Education Savings Plans and Does It Matter for Postsecondary Enrolment? ArchivedArticles and reports: 11F0019M2017392Description:
The registered education savings plan (RESP) savings vehicle is designed to encourage parents of school-age children to save for their children’s postsecondary education through tax sheltered earnings on contributions, as well as through additional contributions from the federal government. No recent evidence exists on the characteristics of RESP holders, and little exists on the association between having an RESP and enrolling in postsecondary education.
This study makes three contributions to the literature. First, it documents differences in RESP holdings by family income and how these have evolved over time. Second, it decomposes these differences (particularly between the top and bottom quintiles of family income) into portions that are related to differences in key determinants of RESP participation (e.g., family wealth and parental education). And, third, it examines the relationship between having an RESP account and attending a postsecondary institution.
Release date: 2017-04-12
Data (2)
Data (2) ((2 results))
- Table: 98-400-X2016103Geography: Province or territory, Census metropolitan area, Census agglomeration, Census metropolitan area part, Census agglomeration partDescription:
This table presents household contributions to registered savings accounts and selected household characteristics for private households of Canada, provinces and territories, census metropolitan areas and census agglomerations.
Release date: 2017-09-13 - Public use microdata: 81M0017XDescription:
The Survey of Approaches to Educational Planning (SAEP), conducted and developed jointly by Human Resources Development Canada and Statistics Canada, provides detailed information about approaches to educational planning in Canada. The survey provides information on how parents are involved with their children's education, their hopes and plans for their children's postsecondary education, how they expect to pay for their children's postsecondary education and their current education savings.
Release date: 2005-02-03
Analysis (21)
Analysis (21) (0 to 10 of 21 results)
- Articles and reports: 36-28-0001202200900001Description:
Registered Education Savings Plans (RESPs) are an important vehicle to help families save for postsecondary education. However, large differences in RESP savings persist between families of different income levels, despite targeted incentives aimed at encouraging low- and middle-income families to open RESP accounts and contribute to them. This article documents the differences in RESP contributions between families with different levels of income and liquid wealth.
Release date: 2022-09-28 - Stats in brief: 11-629-X2022002Description:
This descriptive video provides an American Sign Language translation of the Daily for the Survey on Savings for Persons with Disabilities.
Release date: 2022-04-04 - Articles and reports: 36-28-0001202200200002Description:
A Registered Retirement Savings Plan (RRSP) is a tax-deductible savings vehicle designed to encourage people to save for their retirement. Contributions are made with pre-tax income, and taxation is deferred to the time when funds are withdrawn, typically in retirement when marginal tax rates are otherwise low, resulting in tax savings over the life cycle. However, RRSP funds do not lock in and there are no early withdrawal penalties by the tax system, which means pre-retirement withdrawals are frequent. This prevalence of pre-retirement RRSP withdrawals raises the question of what reasons, aside from retirement planning, lead people to use these plans. To explore this issue, new research by Statistics Canada and the Retirement and Savings Institute (RSI) at HEC Montréal considers how a person’s financial literacy affects the timing of contributions to and withdrawals from RRSPs.
Release date: 2022-02-23 - Articles and reports: 75F0002M2021003Description:
Canada has faced profound economic and social impacts as a result of the COVID-19 pandemic. This report brings together diverse findings which illuminate changes in quality of life since March 2020, and provides value added by examining these results through a well-being lens. Specifically, the paper describes how selected aspects of well-being have been affected during the pandemic, focussing on income and wealth (financial well-being and resiliency), knowledge and skills (technology and children and youth schooling), work-life balance (child care and family bonds), health (mental health and persons with disabilities) and environmental quality (connecting with nature close to home).
Release date: 2021-04-15 - Articles and reports: 13-605-X202000100006Description:
This study of data from the Distributions of Household Economic Accounts compares households' economic well-being from a macro-economic accounts perspective, as measured by net saving and net worth for each generation when the major income earner for a household in one generation reached the same point in the life cycle as the major income earner for a household in another generation. The study finds that while younger generations have higher disposable income and higher consumption expenditure than older generations when they reached the same age, their net saving is relatively similar. As well, younger generations' economic well-being may be more at risk due to the COVID-19 pandemic since they depend more on employment as a primary source of income, they have higher debt relative to income, and they have less equity in financial and real estate assets from which to draw upon when needed.
Release date: 2020-12-10 - Articles and reports: 11-626-X2017071Description:
This Economic Insights article documents the characteristics of families with children under the age of 18 who hold registered education savings plan (RESP) investments. The article also examines the relationship between holding an RESP account at age 15 and postsecondary enrolment between the ages of 19 and 27. The data are drawn from the 1999 and 2012 Survey of Financial Security and from the Youth in Transition Survey, Cohort A, linked to the T1 Family File. Postsecondary enrolment is derived from education deductions and tuition credits in the tax data.
Release date: 2017-04-12 - 7. Which Families Invest in Registered Education Savings Plans and Does It Matter for Postsecondary Enrolment? ArchivedArticles and reports: 11F0019M2017392Description:
The registered education savings plan (RESP) savings vehicle is designed to encourage parents of school-age children to save for their children’s postsecondary education through tax sheltered earnings on contributions, as well as through additional contributions from the federal government. No recent evidence exists on the characteristics of RESP holders, and little exists on the association between having an RESP and enrolling in postsecondary education.
This study makes three contributions to the literature. First, it documents differences in RESP holdings by family income and how these have evolved over time. Second, it decomposes these differences (particularly between the top and bottom quintiles of family income) into portions that are related to differences in key determinants of RESP participation (e.g., family wealth and parental education). And, third, it examines the relationship between having an RESP account and attending a postsecondary institution.
Release date: 2017-04-12 - Articles and reports: 11F0019M2017391Description:
This paper assesses the extent to which education affects how Canadians save and accumulate wealth for retirement. The paper makes three contributions. First, a descriptive analysis is presented of differences in savings and home values across individuals based on their levels of educational attainment. To this end, new datasets that link survey respondents from the 1991 and 2006 censuses of Canada to their administrative tax records are used. These data provide a unique opportunity to jointly observe education, savings, home values, and a plethora of other factors of relevance. Second, the causal effect of high school completion on savings rates in tax-preferred accounts is estimated, exploiting compulsory schooling reforms in the identification. Third, building on a recent study by Messacar (2015), education is also found to affect how individuals re-optimize their savings rates in response to an automatic change in pension wealth accumulation. The implications of this study’s findings for the “nudge paradigm” in behavioural economics are discussed.
Release date: 2017-03-27 - Articles and reports: 11-626-X2016064Description:
This article in the Economic Insights series presents an overview of recent trends in registered retirement savings plan (RRSP) use among Canadian taxfilers aged 25 to 54, from 2000 to 2013. The analysis centres on differences in RRSP contribution and withdrawal behaviour across income groups, and around the time that the tax free savings account (TFSA) was introduced.
Release date: 2017-02-13 - 10. Do Workplace Pensions Crowd Out Other Retirement Savings? Evidence from Canadian Tax Records ArchivedArticles and reports: 11F0019M2015371Description:
This paper investigates whether registered pension plans (RPPs) help households prepare financially for retirement or simply substitute for other forms of private saving. This issue is addressed using a panel of 1.8 million Canadian households, from 1991 to 2010, which appear in the Longitudinal Administrative Databank. The analysis controls for correlations in savings across accounts due to unobserved tastes for saving by exploiting the fact that employer contribution rates increase discontinuously on earnings above the average industrial wage, a unique feature of occupational pensions in Canada, the effect being estimated in a Regression Kink Design.
Release date: 2015-12-21
Reference (3)
Reference (3) ((3 results))
- Surveys and statistical programs – Documentation: 72-211-XDescription:
Data on investment income, Registered Retirement Savings Plan (RRSP) contributions and charitable donations are derived from income tax returns.The data for the products associated with this release are derived from an early version of the T1 file that Statistics Canada receives from Canada Revenue Agency (CRA).
Release date: 2018-02-14 - 2. T1 Family File, Preliminary Estimates ArchivedSurveys and statistical programs – Documentation: 72-211-X2018001Description:
Data on investment income, Registered Retirement Savings Plan (RRSP) contributions and charitable donations are derived from income tax returns.The data for the products associated with this release are derived from an early version of the T1 file that Statistics Canada receives from Canada Revenue Agency (CRA).
Release date: 2018-02-14 - 3. T1 Family File, Preliminary Estimates ArchivedSurveys and statistical programs – Documentation: 72-211-X2017001Description:
Data on investment income, Registered Retirement Savings Plan (RRSP) contributions and charitable donations are derived from income tax returns.The data for the products associated with this release are derived from an early version of the T1 file that Statistics Canada receives from Canada Revenue Agency (CRA).
Release date: 2017-02-22
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