The Canadian Credit Union Association is promoting the idea through all of its credit unions because it’s concerned about how people are planning for retirement, especially now that costs are rising and so many don’t have pension plans. Syed said they’re particularly concerned about those who are self-employed or earning income from less traditional sources.
“This is definitely not the time when people are usually thinking about this, but we’re raising awareness to ensure that people still have savings at the top of their mind and will start planning for life after work,” he said. “We want to make sure that everyone is thinking of all of their options, especially with RRSPs and self-directed plans. These are a great vehicle for people to save for their retirements.”
Read more: Pre-planning for retirement
The Kitchener, Ontario-based YNC used the awareness day to launch its fall campaign to get people thinking about their RRSPS well in advance of the traditional late February deadline.
“We want to ensure that people are getting good financial and tax advice,” said Syed, “and that they have a good financial plan and healthy portfolio going into the new year.”
