National Bank Financial Group

National Bank Financial Group

February 17, 2011 11:11 ET

Part One of the Poll(i): The reflection of Quebecers' Financial Position

53% of Quebecers have an RRSP but only 28% have a TFSA

MONTREAL, QUEBEC--(Marketwire - Feb. 17, 2011) - has released the results of the first part of a CROP poll(i) conducted on Quebecers savings and investment habits online by web panels of 1,814 respondents across Quebec between December 3 and 23, 2010.

The poll is essentially a reflection of Quebecers' financial position based on approximately 100 questions about their personal finances and how they manage them.

When asked about the savings products they have, 1 Quebecer in 2 (53%) said they owned an RRSP either alone or jointly. The data seem to be similar across the different regions of the province.

The Outaouais region is home to the highest percentage of RRSP holders (66%), followed by the Mauricie region (62%), the Greater Quebec City area (60%), the Eastern Townships (56%) and Montreal (54%). In contrast, the Saguenay region had the lowest percentage with only 47% of respondents saying they had an RRSP.

 Percentage of people contributing to an RRSP
Provincial total Montreal CMA Quebec
City CMA
Mauricie Saguenay Eastern
Outaouais Elsewhere in
53% 54% 60% 62% 47% 56% 66% 46%

Three years after it was introduced, the TFSA's popularity is still lacking, as only 1 Quebecer in 4 (28%) has a TFSA.

As is the case for RRSPs, the greatest percentage of TFSA holders are in Quebec's Outaouais region (38%), followed by Montreal (31%), the Greater Quebec City area and the Mauricie region (both at 26%), and the Eastern Townships (25%). Once again, the Saguenay region is in last place with 22%.

 Percentage of people contributing to a TFSA
Provincial total Montreal CMA Quebec
City CMA
Mauricie Saguenay Eastern Townships Outaouais Elsewhere in
28% 31% 26% 26% 22% 25% 38% 23%

To find out more about Quebecers' savings habits, view the first phase of the poll in "RRSPs: Saguenay residents fall short" at

(i) Methodology: Data were collected online from December 3 to 23, 2010 by web panels. In all, 1,814 questionnaires were completed. The results were weighted to reflect the distribution of Quebec's adult population by sex, age, region, language (in the Montreal area) and household size. Given the non-probability online sampling, the margin of error calculation does not apply.

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National Bank of Canada is an integrated group that provides comprehensive financial services to consumers, small and medium-sized enterprises and large corporations in its core market, while offering specialized services to its clients elsewhere in the world. National Bank offers a full array of banking services, including retail, corporate and investment banking. It is an active player on international capital markets and, through its subsidiaries, is involved in securities brokerage, insurance and wealth management as well as mutual fund and retirement plan management. National Bank has over $145 billion in assets and, together with its subsidiaries, employs 18,322 people. The Bank's securities are listed on the Toronto Stock Exchange (TSX:NA). For more information, visit the Bank's website at To access National Bank Financial Group's financial education portal, visit

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Contact Information

  • Joan Beauchamp
    Senior Advisor, Public Relations
    National Bank Financial Group