Winnipeg Free Press - PRINT EDITION

Fewer Manitobans broke by payday: survey

  • Print

FEWER Manitobans are living paycheque to paycheque, but a high percentage of them are spending beyond their means, according to a new survey by the Canadian Payroll Association.

In a report released Wednesday, the CPA said 42 per cent of the employed Manitobans who responded to an online survey said they're living paycheque to paycheque. That's down from 53 per cent in 2012.

It was one of lowest rates in the country, second only to Quebec's 24 per cent, and was the same as the national average.

Manitoba also boasted the highest number of employees trying to save more money, at 77 per cent. That's up from 68 per cent a year ago and was nearly 10 percentage points higher than the national average of 68 per cent.

Only 37 per cent of Manitobans said they save less than six per cent of their pay. That's the second-lowest rate in the country and eight points better than the national average, the association said.

Along with the good news, there were some sobering numbers coming out of Manitoba.

For example, the province had one of the highest rates of people who are spending all or more than their net pay, at 47 per cent, the association said. The only region with a higher rate was Atlantic Canada at 53 per cent. The national average was only 40 per cent.

Also, 74 per cent of Manitoba respondents said they've saved less than a quarter of their retirement goal. That's up from 67 per cent a year ago, but was nearly on par with the national average of 73 per cent.

CPA board member Edna Stack said while Manitobans are doing better than some people in other provinces when it comes saving money and spending within their means, there is room for improvement.

She noted financial planning experts say Canadians should be setting aside at least 10 per cent of their pay for retirement savings. In Manitoba, 37 per cent are setting aside less than half that amount, the survey found.

Stack said one of the best ways to save more money is through payroll deductions, where a specified amount is deposited directly into a savings account each payday.

"You don't miss what you don't have," she said.

The association said it's "disturbing" that 47 per cent of Canadians age 50 or older (they didn't do a provincial breakdown) are less than a quarter of the way to reaching their retirement savings goal.

It's especially disturbing when the survey also shows there's been a marked increase in what Canadians consider an adequate nest egg, with 35 per cent now saying they'll need between $1 million and $2 million, the CPA said.

A year ago, only 28 per cent said they'd need that much.

"Many Canadians know they have to save more," said CPA board chairwoman Charmaine Marsden. "In fact, not saving enough is the top reason cited in the survey for having to work beyond their planned retirement date."

The CPA said 2,863 employees responded to the online poll, conducted between July 26 and Aug. 16.

The polling industry's professional body, the Marketing Research and Intelligence Association, says online surveys cannot be assigned a margin of error because they do not randomly sample the population like traditional telephone polls.

Republished from the Winnipeg Free Press print edition September 12, 2013 B8

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes


  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.


Make text: Larger | Smaller


Jets fans take Anaheim by storm

View more like this

Photo Store Gallery

  • Marc Gallant/Winnipeg Free Press. Local- Peregrine Falcon Recovery Project. Baby peregrine falcons. 21 days old. Three baby falcons. Born on ledge on roof of Radisson hotel on Portage Avenue. Project Coordinator Tracy Maconachie said that these are third generation falcons to call the hotel home. Maconachie banded the legs of the birds for future identification as seen on this adult bird swooping just metres above. June 16, 2004.
  • A monarch butterfly looks for nectar in Mexican sunflowers at Winnipeg's Assiniboine Park Monday afternoon-Monarch butterflys start their annual migration usually in late August with the first sign of frost- Standup photo– August 22, 2011   (JOE BRYKSA / WINNIPEG FREE PRESS)

View More Gallery Photos


Do you agree with the sale of the Canadian Wheat Board to foreign companies?

View Results

View Related Story

Ads by Google