Almost half of Canadians say they are not planning to make an RRSP contribution for 2003, a new survey indicates.

The survey for Bank of Nova Scotia shows that while 63% of those polled said that saving for retirement is an important goal, 47% said they do not plan on making an RRSP contribution for 2003.

On a regional basis, the survey shows that intentions to contribute to an RRSP for 2003 differ depending on their location in Canada. Of those polled, Albertans are most likely to contribute (60%), while those in Saskatchewan, Manitoba as well as in Atlantic Canada (40%) are least likely to contribute. In B.C. the number is 46%; Ontario and Quebec are both at 52%.

Albertans also have higher retirement goals than any other region with 24% saying their goal for retirement savings is greater than $1 million. They are also the most likely to have a written financial plan (41%) followed in second by Ontario (36%).

“Many Canadians don’t realize the power of saving on a regular basis,” says Ron Laursen, senior vice president, day-to-day banking, at Scotiabank. “It can be as simple as starting a monthly pre-authorized contribution to a high-interest savings account or a balanced mutual fund.”

The survey of 1,055 adult Canadians was conducted by Ipsos-Reid by telephone between Dec. 9 and 11. Results are considered accurate to within 3.01 percentage points, 19 times out of 20.