Photo: TD Bank

A new survey finds more than half of British Columbians are worried about how the pandemic will affect their savings and retirement plans.

The TD Bank survey found British Columbians are significantly more likely to be worried compared to those in other regions, and 40% said they could use some financial advice during the pandemic.

The survey results were released just as many think about topping up their RRSP contributions for the 2020 tax year.

According to the survey, one in three (35%) Canadians surveyed say the pandemic has impacted their savings and retirement plans, with one quarter (25%) of those affected needing to cut back on contributions or stop them altogether.

With the traditional "RRSP season" here and the coronavirus pandemic affecting not only the income, but also the investments of many Canadians, a somewhat surprising 70% said they still feel confident managing their finances.

However, six in ten (59%) are worried about the effect of COVID-19 on their savings and retirement plans.

The Ipsos poll was conducted online between Nov. 24 and 26, 2020, with a sample size of 1,002 Canadians aged 18 and over.