Skip to main content
Access every election story that matters
Enjoy unlimited digital access
$1.99
per week for 24 weeks
Access every election story that matters
Enjoy unlimited digital access
$1.99
per week
for 24 weeks
// //

An Ipsos Reid survey conducted in November for Sun Life found that, overall, 57 per cent of Canadians felt they were not any better off financially than they were a year ago.

Getty Images/iStockphoto

A majority of Canadians don't feel better off financially than last year, according to a new survey.

The poll by Sun Life Financial and Ipsos Reid found that 57 per cent of respondents say they aren't in better shape than a year ago when it comes to their personal finances.

For the minority of those who said they are feeling better – 38 per cent – 65 per cent said they paid down household debt this year and 50 per cent said they make lump sum contributions and/or regular monthly additions to their RRSP.

Story continues below advertisement

But the survey found that only 36 per cent of all those polled make a contribution to their RRSP.

Among women and seniors – people aged 55 and older – the percentage of respondents saying they aren't doing better financially this year rises to 61 per cent.

"It's concerning that a majority of Canadians aren't feeling better off financially than they were last year – as we head into a holiday season where we tend to spend more and save less," said Sun Life Financial Canada president Kevin Dougherty.

"Canadians can take steps toward feeling better by putting a financial plan in writing – and perhaps consider it as a new year's resolution."

When broken down by region, the poll found that Quebeckers are the least likely to claim being better off than last year, at 63 per cent.

Albertans came out as the respondents most likely to say they feel in better shape than the previous 12 months: 47 per cent.

That province is followed by Saskatchewan and Manitoba, at 45 per cent each, and Atlantic Canada at 43 per cent.

Story continues below advertisement

Atlantic Canadians are the least likely to make RRSP contributions, with 67 per cent of those surveyed saying they do not make regular or monthly contributions, and British Columbians second at 64 per cent.

Sun Life Financial said in its news release Monday that it welcomes the Quebec government's recent passing of a bill in support of a voluntary retirement savings plan.

"Sun Life Financial welcomes this development and, outside of Quebec, believes a Pooled Registered Pension Plan will address the concerns of millions of working Canadians who do not have workplace retirement savings plans."

The Ipsos Reid survey was conducted between Nov. 25 and Nov. 29, 2013, based on interviews with 1,234 Canadians from Ipsos' online panel.

Ipsos says the poll is accurate to within plus or minus 3.2 percentage points had all Canadian adults been polled.

However, online surveys cannot be assigned a margin of error because they are not based on a random sample of the population, according to the Marketing Research and Intelligence Association.

Your Globe

Build your personal news feed

  1. Follow topics and authors relevant to your reading interests.
  2. Check your Following feed daily, and never miss an article. Access your Following feed from your account menu at the top right corner of every page.

Follow the author of this article:

View more suggestions in Following Read more about following topics and authors
Report an error Editorial code of conduct
Tickers mentioned in this story
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

If you do not see your comment posted immediately, it is being reviewed by the moderation team and may appear shortly, generally within an hour.

We aim to have all comments reviewed in a timely manner.

Comments that violate our community guidelines will not be posted.

UPDATED: Read our community guidelines here

Discussion loading ...

To view this site properly, enable cookies in your browser. Read our privacy policy to learn more.
How to enable cookies