OTTAWA Cheap Air Jordan 12 Dark Grey Mens For Sale , Sept.13 (Xinhua) -- More than 65 percent of Canadian households are saving for retirement, according to Statistics Canada Wednesday.
Out of 14 million households, 65.2 percent made a contribution to either a registered retirement saving plan (RRSP) or a tax-free savings account (TFSA) in 2015.
That's a shocking number of responsible saving from Canadians of all ages at a time when experts have lamented household debt at record highs and savings rates that have fallen dramatically since the 1980s.
The census data released by Statistics Canada Wednesday did not reveal how much money Canadians were saving, but it showed a change in the approach to savings by age and income level.
Younger Canadians and those in lower-income households were more likely to put their money in TFSAs Cheap Air Jordan 12 Retro Dark Grey For Sale , likely because they had lower earned income and RRSP contribution levels depend on having earned income at tax time.
They may also be attracted to the fact there is no financial penalty if they have to withdraw money from a TFSA for an emergency or when buying a home.
Meanwhile people in their prime working years, aged 35 to 54, are most likely to use RRSPs to save, likely because they have earned income and enjoy the tax deduction of contributing to an RRSP.
The census numbers also show the increasing popularity of TFSAs Cheap Air Jordan 12 Dark Grey For Sale , with more than 40 percent of Canadians contributing to them. The RRSP is middle-class Canadians' more traditional retirement savings vehicle, while the TFSA was only introduced in 2009.
More than 45 percent of them contributed to an RRSP, compared to 37 percent of people aged 25 to 34. They're also most likely to contribute to both RRSPs and TFSAs, compared to younger people Cheap Jordan 12 Dark Grey Mens For Sale , who may be stretched to buy a home in today's high-priced markets.
Those over 55 also are more likely to use TFSAs, perhaps because they have maxed out RRSP contributions or anticipate they may need the cash in the near future..
It's the first time the census has probed the question, taking advantage of tax data to paint a more accurate picture of just how seriously Canadians take retirement planning.
The national household saving rate, which has fallen from 20 percent in 1989 to t 4.6 percent in the second quarter of this year Cheap Jordan 12 Retro Dark Grey For Sale , is misleading in how it portrays Canadians' savings habits.
Research compiled by actuary Malcolm Hamilton of the C.D. Howe Institute suggests that the rate of retirement saving for employed people has actually almost doubled in recent decades.
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The press center for the upcoming 19th National Congress of the Communist Party of China (CPC) opened today for both domestic and overseas press.
The press center, based in the Beijing Media Center Hotel Cheap Jordan 12 Dark Grey For Sale , will handle credentials for foreign journalists and correspondents from the Hong Kong and Macao special administrative regions, as well as Taiwan.
Press center for 19th CPC national congress opens on Wednesday Press center for 19th CPC national congress opens on Wednesday Press center for 19th CPC national congress opens on Wednesday Press center for 19th CPC national congress opens on Wednesday Press center for 19th CPC national congress opens on Wednesday Press center for 19th CPC national congress opens on Wednesday
The center will also handle interview applications, organize press conferences www.jordan12darkgrey.com , arrange coverage for other activities related to the congress, and provide necessary information and technical services for reporters.
During the congress, an official website and a WeChat account for the media center will also be available.
The 19th CPC National Congress is expected to start on Oct. 18 in Beijing.
A rights group has called for targeted sanctions and an arms embargo against the Myanmar military in response to an offensive that has sent 410,000 Rohingya Muslims fleeing to Bangladesh to escape what the United Nations has branded ethnic cleansing.
The latest spasm of violence in western Myanmar's Rakhine State began on August 25 air jordan 12 dark grey 2017 for sale , when Rohingya insurgents attacked police posts and an army camp, killing about 12 people.
Rights monitors and fleeing Rohingya say Myanmar security forces and Rakhine Buddhist vigilantes responded with what they describe as a campaign of violence and arson aimed at driving out the Muslim population.
Buddhist-majority Myanmar rejects that, saying its forces are carrying out clearance operations against the insurgents of the Arakan Rohingya Salvation Army, which claimed responsibility for the August attacks and similar air jordan 12 retro dark grey for sale , smaller raids in October.
The Human Rights Watch group said that Myanmar security forces were disregarding condemnation by world leaders over the violence and the exodus of refugees, and the time had come to impose tougher measures that Myanmar's generals could not ignore.
"The United Nations Security Council and concerned countries should impose targeted sanctions and an arms embargo on the Burmese military to end its ethnic cleansing campaign," the group sai.