While the value of RRSP contributions increased in 2013, the number of contributors dropped, according to the latest data from Statistics Canada.

StatsCan reported, based on 2013 tax filings, that the total value of RRSP contributions rose almost 5% from the previous year to $37.4 billion. However, the percentage of taxpayers who contributed to an RRSP edged down from 23.7% in 2012 to 23.4% in 2013, it notes.

Total contributions increased in every province and territory, led by Newfoundland and Labrador (+11.4%), New Brunswick (+11.3%) and Alberta (+8.2%), StatsCan says. Nationally, the median contribution was $3,000, up 2.4% from 2012.

Nunavut had the lowest percentage who contributed to an RRSP at just 11.4%, but those who did contribute made the highest median contribution of $4,740, StatsCan says. Alberta had the second highest median contribution at $3,600, followed by the Yukon ($3,590) and the Northwest Territories ($3,300). Manitoba had the lowest median contribution at $2,360. Looking at the major cities, Calgary had the highest median RRSP contribution at $4,200, followed by Vancouver ($3,600) and Toronto ($3,550).

Investment income rises

Separately, StatsCan also reported that investment income declared by taxpayers rose during the year. It says that the amount of investment income increased 8.5% to $66.7 billion. Although, again, the proportion of taxpayers reporting investment income edged down from 30.1% in 2012 to 30.0% in 2013.

Nationally, median investment income increased from $590 in 2012 to $600 in 2013, the agency reports. The highest median investment income was reported in Alberta ($760), followed by British Columbia ($750) and Saskatchewan ($670).

By city, Victoria reported the highest median investment income ($1,040), followed by Kelowna ($1,000) and Calgary ($890).