BMO Annual RRSP Study: Canadians Using RRSPs to Fund Everyday Expenses and Debt Repayment: - Average amount Canadians have taken out of their RRSPs is $17,213 - Approximately one in five use funds for living expenses (21 per cent) or to pay down debt (18 per cent) - National survey with regional breakdowns

Abstract

According to the study, Canadians have withdrawn an average of $17,213 from their RRSPs this year, an increase of $1,305 from last year ($15,908) and 38 per cent of Canadians have withdrawn money from their Registered Retirement Savings Plan (RRSP) before age 71, an increase of 4 per cent from last year (34 per cent). For emergencies (18 per cent) Regional Breakdown ---------------------------------------------------------------------------- Average amount % of Canadians Canadians have who have made an withdrawn...