More than Half of Canadian Investors Feel They Will Have Enough Money for Retirement
Canadian Securities Administrators research shows that Canadian investors are twice as likely to believe they will have enough money to meet their retirement needs as compared to their non-investing counterparts. — Download the full report: 2010 CSA Survey on Retirement and Investing.
Calgary, October 12, 2010 – Canadian investors are twice as likely to believe they will have enough money to meet their retirement needs (62 per cent) as compared to their non-investing counterparts (31 per cent). This is just one of the findings in the 2010 Canadian Securities Administrators (CSA) Survey on Retirement and Investing released today.
The survey was released as part of Investor Education Month in October. Conducted by Ipsos Reid on behalf of the CSA, the online survey asked 2,318 Canadian adults about their financial readiness for retirement and behaviour towards investment opportunities. CSA members will use the results of this survey to research, develop and enhance investor tools and resources based on the needs of Canadian investors.
“As securities regulators, our goal is to create an environment where Canadians feel confident to invest in Canada’s capital markets,” says Jean St-Gelais, Chair of the CSA “We are pleased to see that Canadians are investing as part of their retirement plan.”
The survey also found that 71 per cent of Canadian investors say they’ve done research on their last investment opportunity, either themselves (31 per cent) or through their financial adviser (40 per cent). Furthermore, when it comes to recommendations on high return investments from friends and family most Canadians would do more research before investing.
“We’ve been working hard to provide the tools and resources to help Canadians make important investment decisions,” says St-Gelais. “So we’re encouraged to see Canadians recognize the importance of researching investment opportunities, no matter who makes the recommendation.”
About the Study
Ipsos Reid interviewed 2,318 Canadian adults online, between August 16 and 19, 2010. The sample was comprised of a “general population” sample, in which disproportionate sampling was conducted for three provinces, Manitoba, Nova Scotia and New Brunswick, in order to provide reliable provincial samples. Weights were applied to the data to reflect Canada’s adult population.
A sample of this size is associated with a ± 2.4 percentage point margin of error (calculated at a 95% confidence interval).
About the CSA
The CSA, the council of securities regulators of Canada’s provinces and territories, coordinates and harmonizes regulation for the Canadian capital markets. Their mandate is to provide investors with protection from unfair or fraudulent practices through regulation of the securities industry. Part of this protection is educating investors about the risk, responsibilities and rewards of investing.
Download the full report
Download the executive summary
Download the full report (French version)
Download the executive summary (French version)