Breaking News

Tweet TWEET

CIBC RRSP Deadline Poll: 16% of Canadians say they have left their RRSP contribution to the last minute

CIBC RRSP Deadline Poll: 16% of Canadians say they have left their RRSP 
contribution to the last minute 
TORONTO, March 1, 2013 /CNW/ - Today is your last chance to contribute to an 
RRSP before this year's deadline, and as a recent CIBC (CM: TSX, NYSE) poll 
shows, a number of eligible Canadians have left their RRSP contribution to the 
very last minute. 
The poll, conducted by Harris/Decima and released February 25(th), showed 16 
per cent of eligible Canadians said they intended to contribute to their RRSP 
this year but were leaving their RRSP contribution to the last 48 hours before 
the March 1 2013 deadline. 
Regionally, the poll revealed residents of Manitoba and Saskatchewan, Alberta 
and Ontario were among the most likely to procrastinate, with 18 per cent 
saying they would likely make their contribution in the last 48 hours. 
Atlantic Canadians were among the most prepared, with only 9 per cent saying 
they have left their contribution to the last minute. 
The poll also shows that Canadians aged 25 -34 are the most likely to 
procrastinate with 26 per cent saying they intended to contribute but would 
leave their RRSP contribution to the last 48 hours. 
"With only hours to go until the RRSP deadline, if you are planning to 
contribute you will need to make the time today," commented Christina Kramer, 
Executive Vice President, Retail Distribution and Channel Strategy, CIBC. 
"Whether you meet with an advisor, or make a contribution online or by phone, 
we encourage Canadians who are planning to contribute to ensure they don't 
miss the opportunity." 
Ms. Kramer suggests that Canadians who are pressed for time today can 
contribute in two stages, by contributing to a flexible RRSP savings option 
today, then making time in March to talk to an advisor about long term 
investment options. CIBC is offering bonus interest on RRSP daily savings 
deposits until March 28(th), 2013, for Canadians finding themselves without 
the time to make longer term investment decisions before the deadline. 
"If you don't have the time today to consider all of your options, make a 
contribution to a flexible savings option today and then come back on a 
weeknight, Saturday or Sunday to spend some time with an Advisor evaluating 
how to invest those funds for the long term," added Ms. Kramer. 
CIBC offers the following tips to make your RRSP contribution before the 
deadline: 
Visit your nearest CIBC branch: Check with your local branch to confirm 
their hours and make the time for an in-person discussion. You can locate your 
nearest CIBC branch through the branch locator tool at www.cibc.com simply by 
entering your postal code. 
Contribute by Phone: 24 hours a day, you can call CIBC at 1-800-465-CIBC 
(2422) to discuss your RRSP options over the phone and make a contribution if 
you have an existing CIBC RRSP and chequing account.  
Make your Contribution Online: CIBC clients can log into CIBC Online Banking 
at www.cibc.com to deposit funds to an existing RRSP from a CIBC account 
before the deadline. 
Set up next year's contribution now: If you find yourself just beating the 
deadline this year, talk to an advisor about setting up regular contributions 
to your retirement plan to make next year's contribution much easier. 
Investing smaller amounts bi-weekly or monthly over the next 12 months could 
help you avoid a last minute contribution next year. 
KEY POLL FINDINGS (original poll release Feb 25) 
Canadians who said they intend to contribute on either February 28
(th) or March 1st, 2013, by
region: 
National                                                           16% 
Atlantic Canada                                                    9% 
Quebec                                                             15% 
Ontario                                                            18% 
Manitoba and Saskatchewan                                          18% 
Alberta                                                            18% 
British Columbia                                                   14% 
Canadians who said they intend to contribute on either February 28
(th) or March 1st, 2013, by
age: 
National                                                           16% 
18-24                                                              10% 
25-34                                                              26% 
35-44                                                              19% 
45-54                                                              20% 
55-64                                                              11% 
65+                                                                4% 
*Each week, Harris/Decima interviews just over 1000 Canadians through teleVox, 
the company's national telephone omnibus survey. These data were gathered in a 
sample of 855 RRSP eligible Canadians between February 14 - 17, 2013. A sample 
ofthis size has a margin of error of +/-3.4%, 19 times out of 20. 
CIBC is a leading North American financial institution with nearly 11 million 
personal banking and business clients. CIBC offers a full range of products 
and services through its comprehensive electronic banking network, branches 
and offices across Canada, and has offices in the United States and around the 
world. You can find other news releases and information about CIBC in our 
Press Centre on our corporate website at www.cibc.com. 
Kevin Dove, Head of External Communications and Media Relations: (416)  
980-8835 orKevin.dove@cibc.ca 
SOURCE: CIBC 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/March2013/01/c9352.html 
CO: Canadian Imperial Bank of Commerce
ST: Quebec
NI: FIN ECO ECOSURV  
-0- Mar/01/2013 10:00 GMT
 
 
Press spacebar to pause and continue. Press esc to stop.