Chart 1
Use of tax-preferred savings accounts over the life cycle, by educational attainment

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Chart 1 Use of tax-preferred savings accounts over the life cycle, by educational attainment

Data table for Chart 1
Data table for Chart 1
Table summary
This table displays the results of Data table for Chart 1. The information is grouped by Age (appearing as row headers), Incidence of contributing to a tax-preferred savings account, by educational attainment, Net savings rates in tax-preferred savings accounts, by educational attainment, High school dropout, Terminal high school diploma, Some postsecondary education and University graduate, calculated using percent units of measure (appearing as column headers).
Age Incidence of contributing to a tax-preferred savings account, by educational attainment Net savings rates in tax-preferred savings accounts, by educational attainment
High school dropout Terminal high school diploma Some postsecondary education University graduate High school dropout Terminal high school diploma Some postsecondary education University graduate
percent
25 19.6 40.1 50.8 58.9 1.2 3.0 4.2 6.0
26 21.7 42.4 53.5 66.9 1.4 3.3 4.6 7.1
27 23.6 44.2 55.6 72.0 1.5 3.3 4.8 7.9
28 25.1 46.3 57.6 75.7 1.6 3.6 5.1 8.5
29 27.6 48.5 59.6 78.7 1.9 3.8 5.4 9.1
30 28.8 50.6 61.2 81.1 2.0 4.1 5.6 9.6
31 30.3 51.9 62.5 82.4 2.1 4.3 5.8 9.9
32 32.4 53.4 63.3 83.7 2.4 4.5 6.0 10.2
33 34.2 54.7 64.3 84.6 2.6 4.7 6.2 10.4
34 36.1 55.8 65.3 85.2 2.8 4.9 6.3 10.6
35 37.7 57.5 65.8 85.5 2.9 5.1 6.5 10.7
36 38.7 58.7 66.7 85.7 3.1 5.3 6.7 10.9
37 40.6 60.1 67.2 86.2 3.3 5.6 6.8 11.0
38 41.6 60.9 68.1 86.6 3.4 5.8 7.0 11.1
39 42.8 61.6 68.6 87.0 3.6 5.9 7.2 11.2
40 43.9 62.6 69.4 87.1 3.7 6.1 7.3 11.4
41 45.1 63.8 69.8 87.3 3.8 6.3 7.5 11.4
42 46.4 65.0 70.5 87.5 4.0 6.5 7.6 11.5
43 47.3 66.0 71.2 87.8 4.2 6.7 7.8 11.6
44 48.6 66.7 72.0 88.0 4.4 6.9 8.0 11.7
45 49.4 67.5 72.7 88.0 4.5 7.1 8.2 11.8
46 50.0 68.1 73.4 88.2 4.7 7.3 8.4 11.9
47 51.0 68.8 73.8 88.7 4.8 7.5 8.5 12.0
48 51.7 69.5 74.4 88.8 5.0 7.6 8.7 12.1
49 52.5 69.9 75.2 89.1 5.2 7.8 8.9 12.3
50 53.2 70.6 75.6 89.4 5.3 8.0 9.1 12.4
51 54.0 71.2 75.9 89.6 5.5 8.2 9.3 12.6
52 55.0 70.8 75.9 89.5 5.7 8.2 9.3 12.6
53 54.9 70.9 76.0 89.3 5.8 8.3 9.5 12.7
54 55.0 70.7 75.7 88.8 5.8 8.3 9.5 12.6
55 55.1 69.9 75.4 88.1 5.9 8.3 9.5 12.6
56 54.4 67.8 73.3 86.0 5.9 8.0 9.2 12.2
57 53.5 65.8 71.9 83.5 5.8 7.8 9.0 11.8
58 52.7 64.0 70.3 81.3 5.7 7.5 8.8 11.4
59 51.6 62.5 68.5 78.5 5.6 7.4 8.6 11.0
Notes: Panel A shows the likelihood of contributing to a tax-preferred savings account (registered pension plan [RPP] or registered retirement savings plan [RRSP]) at a given age, from 25 to 59, for several groups based on their educational attainment. Panel B shows the net savings rates for each group. The net savings rate is defined as RRSP contributions less withdrawals plus RPP contributions in the year. Following M. Frenette (2014b, The Long-term Labour Market Premiums Associated with a Terminal High School Diploma), individuals with a terminal high school diploma are defined as those who had obtained a high school diploma but had not acquired any postsecondary education by the 1991 Census or the 2006 Census.
Sources: Statistics Canada, Longitudinal Worker File-1991 Census and T1 Personal Master File-2006 Census-2011 National Household Survey.
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