Nearly three in four Canadians hold mutual funds within registered retirement savings plans, new research shows.
BMO Financial Group, Toronto, discloses this finding in a summary of results from an online survey of 1,000 Canadians. The poll was conducted by Toronto-based Pollara.
The survey shows that mutual funds remain the investment choice for 72 percent of Canadians with Registered Retirement Savings Plans. Mutual funds account for almost a third (31 per cent) of all holdings held in RRSPs.
The Canadian equivalent of individual retirement accounts in the U.S., RRSPs permit tax-deductible contributions and taxable distributions; contributions are tax-deferred until retirement. The plans may invest in securities and fixed income vehicles.