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RRSP contributions remain steady despite Covid-19, advisors say

Derek Clouthier
With the RRSP contribution deadline right around the corner for 2020 income taxes, advisors are seeing a surprising trend in a year upended by a global pandemic.
Despite Covid-19’s impact, many clients who were fortunate enough to maintain regular employment have been making the same RRSP contributions as they have in the past, and some are even putting more into the retirement fund.
But that doesn’t mean financial advisors weren’t being proactive when the coronavirus first hit.
“In the beginning of the pandemic, we reached out to the clients who were making systematic monthly RRSP contributions,” said Leanne Kohtala, senior financial advisor for Manulife Securities in Timmins, Ont. ....

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RRSP contributions remain steady despite Covid-19, advisors say

RRSP contributions remain steady despite Covid-19, advisors say
advisor.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from advisor.ca Daily Mail and Mail on Sunday newspapers.

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What happens to a woman's retirement savings after a divorce?

What happens to a woman's retirement savings after a divorce?
theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.

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How advisors are helping younger Canadians get through financial hardships

The Globe and Mail
Audrey Carleton
Published January 15, 2021
CasarsaGuru/iStockPhoto / Getty Images
The economic fallout from the COVID-19 pandemic has hit younger Canadians harder than other generations. That has required financial advisors to offer some unique solutions to help these clients weather the storm.
A Carleton University School of Journalism and Communication poll conducted last May found that pandemic-related reductions in family income affected Canadians under 30 years of age more than any other generation, with those aged between 29 to 44 being the next most affected. Similarly, a report that global consulting firm Deloitte published in late June found that almost 30 per cent of Generation Z and a quarter of younger millennials, aged 25 to 30, lost their jobs or were placed on unpaid leave in April or May – larger proportions than any other age group. ....

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