Last year’s rebound in stock markets has more Canadians optimistic about the prospects for their retirement savings this year.

A poll by RBC/Ipsos-Reid found that a majority of Canadians — 54% — anticipate their registered retirement savings plans will make money in 2004, Royal Bank said Monday. When the survey was taken, 39% said they expected positive returns on their RRSPs.

Forty-five per cent of those polled anticipate their RRSPs will gain up to 10%, with an average expected return of 6.3%. Last year, the average anticipated return was zero.

“It’s encouraging to see that expectations of rate of return are in line with what the market can realistically deliver,” Brenda Vince, president of RBC Asset Management Inc., said in a news release.

“In our view, North American equities are trading at fair value; so the fact that Canadians are willing to commit more to equities is good news. After all, equities are important to meet most people’s retirement objectives,” Vince added.

The RRSP survey, now in its 13th year, is based on a survey of 1,205 adults. Conducted between Oct. 6 and Oct. 24, 2003, the survey is considered accurate within 2.8 percentage points, 19 times out of 20.

A separate poll conducted for Manulife Investments found that a majority of Canadians plan to boost or match their previous contributions to RRSPs for the 2003 tax year.

Almost nine of 10 Canadians (89%) who plan to contribute to their RRSPs expect to invest the same amount or more for the current tax year, compared to a year earlier. Sixty-six per cent expect to match their contribution, while 23% plan to invest more than the 2002 tax year. Ten per cent will set aside less.

“Canadians generally remain focused on their long-term investment goals and we’ve seen this remain constant through some very trying times,” said Bruce Gordon, Manulife Financial executive VP and general manager of Canadian operations.