An RRSP "exit poll" conducted by the Investors Group reveals that the number of eligible Canadians making registered retirement savings plan contributions this year is down, and more than ever "parked" their money in low risk, short-term fixed investments.

Only 37% of eligible Canadians made RRSP contributions during the 2007 tax year — a decrease of five percent from last year. However, 83% of Canadians who made an RRSP contribution invested the same or more than they did a year ago.   

The Investors Group found 26% of Canadians said they chose to "park" their RRSP contributions this year by investing in vehicles such as bonds and money market funds. Survey results indicate that of those who tend to park funds, about half park their money for more than a year, and half for less than 12 months.

Prairie residents (41%) are most likely, and Maritime residents (26%) least likely, to have made RRSP contributions during the 2007 tax year. As well, Albertans (45%) are the most likely Canadians to have "parked" their money in short-term investments, while Quebec residents were the least likely (17%). 

Investors Group's Debbie Ammeter, VP advanced financial planning support, believes for employees with parked funds, the key is to "ensure the parking meter doesn't expire." 

"Parked funds are like an idling car: they're in neutral, and not earning the return they should," says Ammeter. "Left unattended for even for a short period of time, they're a missed opportunity." 

The Harris Decima data were gathered between March 1st and March 3rd, 2008. Results are based on a sample of 847 Canadians and the corresponding margin of error is 3.4%, 19 times out of 20.