Two-thirds of Canadian households saving for retirement, census suggests
…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 it -- a picture which experts say has long been distorted by suspect data and aggressive investment marketing. "I think things in general are still in pretty good shape when it comes to preparing for retirement," said Fred Vettese, chief actuary at Morneau Shepell in Toronto. "For the most part, when you look at middle-income Canadians they are saving. So one of the problems with the statistics is that they end up being misleading. Vettese said he's particularly frustrated by the oft-cited national household saving rate, which landed at 4.6 per cent in the second quarter of this year, compared with 20 per cent in 1980.
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