A strong core is vital for health and fitness, and the same is true when it comes to creating a healthy retirement: a strong financial core is key. But a recent ING DIRECT survey finds that many Canadians are failing to build this core.

One-quarter of Canadian adults surveyed by Angus Reid Public Opinion in December said they don’t contribute to an RSP at all.

Of those with RSPs, 58% expect to contribute the same as they did last year, 28% expect to contribute less, and only 13% expect to contribute more.

But a higher percentage of younger Canadians, with more time to invest in their retirement, expect to contribute more in 2010. Of those aged 18 to 34, 22% plan to contribute more.

“Creating and maintaining a healthy savings habit is important, not only for short-term goals or security for unexpected needs, but to create a healthy financial core for future retirement,” said Peter Aceto, president and CEO of ING DIRECT Canada.

The most popular investment for RSPs is still mutual funds, with 39% of respondents holding such funds. But this is down significantly from 2008, when 88% of Canadians surveyed by Angus Reid said they held mutual funds in their RSPs.

Other popular holdings include GICs, cited by 15% of respondents, stocks, at 12%, money market funds, at 12%, and bonds, at 10%.

“We found in our Global Savings Survey last summer that Canadians still remained more optimistic about their finances than people in other countries, and that they are taking charge of their own economic well-being,” said Aceto. “Part of this is to contribute to their RSPs.”