Fewer Canadians plan RRSP contributions

The percentage of Canadians who plan on contributing to their RRSP before the deadline at the end of next month is down slightly from last year, according to a poll issued by the Bank of Montreal.

However, the survey found that those who have already contributed and those who are still planning to add to their retirement savings are putting aside a little more than last year.

Read: Higher pension contributions only partly offset by lower RRSP savings

Of the Canadians surveyed, 61% of those not yet retired said they would be making a contribution to their RRSP, down from 64% a year ago.

But the average contribution for those who have already contributed was $3,984, up from $3,738 last year.

And among those planning to contribute, the average amount was $3,327, up from $2,892 a year ago.

The deadline to contribute to an RRSP for the 2015 tax year is Feb. 29.

Read: Canadians miss out on billions of free retirement money