Households where the major income earner was from 35 to 44 years old had the highest amount of net savings in 2024. That segment saved on average nearly ****** Canadian dollars that year alone. Households of individuals older than 64 had negative net savings amounting to ****** Canadian dollars, which means that their expenses were higher than their revenue. These figures do not show the overall value of savings accumulated in bank accounts and other assets, but the amount of money that households managed to save in a single year.

The average value of net savings per household in Canada increased by *** dollars (+**** percent) since the previous year. In total, the average value amounted to ***** dollars in 2023. This increase was preceded by a declining average value.

Household Saving Rate in Canada decreased to 5.70 percent in the first quarter of 2025 from 6 percent in the fourth quarter of 2024. This dataset provides - Canada Personal Savings - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The saving rate of Canadian households increased considerably during the start of the COVID-19 pandemic in 2020. As of the second quarter of 2020, the saving rate of households in Canada peaked at **** percent. By the fourth quarter of 2024, Canadian households saved on average *** percent of their disposable income.

Key information about Canada Gross Savings Rate

• Canada Gross Savings Rate was measured at 25.2% in Sep 2024, compared with 25.2% in the previous quarter.
• Canada Gross Savings Rate is updated quarterly, with data available from Mar 1961 to Sep 2024, and an average rate of 25.2%.
• The data reached an all-time high of 25.2% in Sep 1966 and a record low of 16.3% in Mar 1992.
• CEIC calculates Gross Domestic Savings Rate from quarterly Gross Domestic Savings and quarterly Nominal GDP. Gross Domestic Savings is calculated as Nominal GDP less Final Consumption Expenditure. Statistics Canada provides Final Consumption Expenditure in local currency and Nominal GDP in local currency.
• In the latest reports, Canada GDP expanded 2.2% YoY in Mar 2023.
• Canada Nominal GDP reached 520,294.6 USD mn in Mar 2023. Its GDP deflator (implicit price deflator) increased 1.4% in Mar 2023.
• Canada GDP Per Capita reached 54,090.1 USD in Jun 2022.

During the year 2020, household average net savings in Canada peaked in the second quarter at ***** Canadian dollars. As of the fourth quarter of 2020, the quarterly net savings per household in Canada amounted to ***** Canadian dollars. The amount of savings reached unprecedented highs during 2020 due to the COVID-19 pandemic and the consequent measures introduced by governments to tackle the outbreak.

During the year 2020, household average net savings in Canada peaked in the second quarter for each income group. Compared to the other groups, households ranked in the highest income quintile displayed considerably higher average net savings during the coronavirus (COVID-19) pandemic. As of the second quarter of 2020, households belonging to this income group reported on average net savings for ****** Canadian dollars.

This table contains data described by the following dimensions (Not all combinations are available): Geography (1 item: Canada); Statistics (4 items: Value; Distribution of value; Value per household; Value per consumption unit); Characteristics (21 items: All households; Lowest income quintile; Second income quintile; Third income quintile; ...); Income, consumption and savings (23 items: Household disposable income; Compensation of employees; Net mixed income; Property income received; ...).

Canada CA: Deposit Interest Rate data was reported at 0.100 % pa in 2017. This stayed constant from the previous number of 0.100 % pa for 2016. Canada CA: Deposit Interest Rate data is updated yearly, averaging 3.917 % pa from Dec 1971 (Median) to 2017, with 47 observations. The data reached an all-time high of 15.958 % pa in 1981 and a record low of 0.075 % pa in 2015. Canada CA: Deposit Interest Rate data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Canada – Table CA.World Bank.WDI: Interest Rates. Deposit interest rate is the rate paid by commercial or similar banks for demand, time, or savings deposits. The terms and conditions attached to these rates differ by country, however, limiting their comparability.;International Monetary Fund, International Financial Statistics and data files.;;

Individuals with a Registered Retirement Savings Plan (RRSP); Tax filers with RRSP contributions by sex, age and income groups (preliminary T1 Family File; T1FF).

Deposit Interest Rate in Canada remained unchanged at 4.91 percent on Wednesday April 10. This dataset includes a chart with historical data for Deposit Interest Rate in Canada.

This table contains 58320 series, with data for years 1999 - 2016 (not all combinations necessarily have data for all years). This table contains data described by the following dimensions (Not all combinations are available): Geography (20 items: Canada; Atlantic; Newfoundland and Labrador; Prince Edward Island; ...); Assets and debts (27 items: Total assets; Private pension assets; Registered Retirement Savings Plans (RRSPs), Registered Retirement Income Funds (RRIFs), Locked-in Retirement Accounts (LIRAs) and other; Employer-sponsored Registered Pension Plans (EPPs); ...); Net worth quintiles (6 items: Total, all net worth quintiles; Lowest net worth quintile; Second net worth quintile; Middle net worth quintile; ...); Statistics (6 items: Total values; Percentage of total assets or total debts; Number holding asset or debt; Percentage holding asset or debt; ...); Confidence intervals (3 items: Estimate; Lower bound of a 95% confidence interval; Upper bound of a 95% confidence interval).

Saving by parents and guardians for the postsecondary education of their children aged 17 and under, by parental characteristics. These parental characteristics include their age, the household income, their educational hope for the child, and their highest level of education. Statistics presented include the percentage of children with postsecondary education savings, the percentage of children with savings who have a Registered Education Savings Plan (RESP), and the average dollar value of the RESP.

Savings by parents and guardians for the postsecondary education of their children aged 17 and under, by child characteristics. These characteristics include their age, their sex, and their grade (percentage) when last in elementary or secondary school. Statistics presented include the percentage of children with postsecondary education savings, the percentage of children with savings who have a Registered Education Savings Plan (RESP), and the average dollar value of the RESP.

Canada CA: Adjusted Savings: Net National Savings: % of GNI data was reported at 6.589 % in 2021. This records an increase from the previous number of 1.151 % for 2020. Canada CA: Adjusted Savings: Net National Savings: % of GNI data is updated yearly, averaging 5.547 % from Dec 1970 (Median) to 2021, with 52 observations. The data reached an all-time high of 10.291 % in 2005 and a record low of -1.431 % in 1992. Canada CA: Adjusted Savings: Net National Savings: % of GNI data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Canada – Table CA.World Bank.WDI: Gross Domestic Product: Nominal. Net national savings are equal to gross national savings less the value of consumption of fixed capital.;World Bank staff estimates based on sources and methods in World Bank's 'The Changing Wealth of Nations: Measuring Sustainable Development in the New Millennium' (2011).;Weighted average;

Educational Assistance Payments (EAPs) are amounts paid from an RESP to an eligible beneficiary to assist with education-related expenses at the post-secondary level. The EAPs include the Canada Education Savings Grant, the Canada Learning Bond, and the income earned on the money saved in the RESP. Payments to a beneficiary are made according to the specific terms of the RESP. A post-secondary education withdrawal (PSE withdrawals), on the other hand, is a withdrawal of contributions made by the RESP subscribers.

Savings by parents and guardians for the postsecondary education of their children aged 17 and under, by region. Statistics presented include the percentage of children with postsecondary education savings, the percentage of children with savings who have a Registered Education Savings Plan (RESP), and the average dollar value of the RESP.

Key information about Canada Investment: % of GDP

• Canada Investment accounted for 26.0 % of its Nominal GDP in Sep 2024, compared with a ratio of 21.9 % in the previous quarter.
• Canada investment share of Nominal GDP data is updated quarterly, available from Mar 1961 to Sep 2024, with an average ratio of 22.2 %.
• The data reached an all-time high of 32.9 % in Sep 1966 and a record low of 15.9 % in Jun 1996.

CEIC calculates Investment as % of Nominal GDP from quarterly Nominal Gross Capital Formation and quarterly Nominal GDP. Gross Capital Formation is calculated as the sum of Gross Fixed Capital Formation and Changes in Inventories. Statistics Canada provides Nominal Gross Capital Formation in local currency and Nominal GDP in local currency, based on CSNA 2012/SNA 2008.


Related information about Canada Investment: % of GDP

• In the latest reports, Canada GDP expanded 2.2 % YoY in Mar 2023.
• Canada Nominal GDP reached 520.3 USD bn in Mar 2023.
• Its GDP deflator (implicit price deflator) increased 1.4 % in Mar 2023.
• Canada GDP Per Capita reached 54,090.1 USD in Jun 2022.
• Its Gross Savings Rate was measured at 25.2 % in Sep 2024.

The average growth rate for the ** largest pension markets worldwide was estimated to be **** percent between 2022 and 2023, and the ten-year compound annual growth rate until 2023 was estimated to be 3.8 percent. Retirement savings in pension funds grew during the last decade and the amount of worldwide pension assets reached new heights in 2021, which can be partially explained by a higher share of working-age population investing in pension plans. Which is the largest pension market? The largest pension market worldwide is the United States, where the total pension fund assets was almost ** times larger than in the United Kingdom, which is the second largest pension market worldwide. Despite some fluctuations during the last decade, the U.S. pension assets grew overall, and as with the worldwide pension assets, reached the highest value in 2020. Pension assets to GDP Despite its relatively small population size, the Netherlands was the fourth largest pension market worldwide, after the United States, United Kingdom, and Canada. The pension market in Netherlands was also the largest market worldwide when compared to the size of its own economy, followed by Canada, Australia, and Spain.

Survey of Household Spending (SHS), average household spending by household type.