Canadians committeed to RRSPs, TFSAs: Survey; Income inequality on the rise: OECD
12/20/2011|Canadian HR Reporter|Last Updated: 12/20/2011
Canadians committeed to RRSPs, TFSAs: Survey
WINNIPEG — Eighty-three per cent of people who plan to invest in registered retirement savings plans (RRSPs) in 2011 will increase or match their 2010 contribution, up from 79 per cent last year, according to a survey of 2,829 adults by Investors Group. Tax-free savings account (TFSA) ownership has reached 50 per cent, up from 45 per cent last year.
Income inequality on the rise: OECD
PARIS — Income inequality has risen steadily in Canada, according to a report by the Organisation for Economic Co-operation and Development (OECD). The average income of the top 10 per cent in 2008 was $103,500, 10 times higher than that of the bottom 10 per cent who had an average income of $10,260 (up from a ratio of eight to one in the early 1990s). The inequality is largely due to widening disparities in earnings between high- and low-paid workers and less redistribution, said OECD.