New Study Reveals that More Canadians Not Expecting Inheritance from Parents (45%) Than Expecting One (35%)

Toronto, ON - A new survey conducted by Ipsos Reid on behalf of HomEquity Bank reveals that when it comes to receiving a parental inheritance, Canadians should not be getting their hopes up.

Nearly half (45%) of Canadians indicate that they don't expect to receive an inheritance, monetary or in some other form, from their parents, compared to just one in three (35%) who believe they will receive one. One in five (20%) don't know if they will receive one or not.

• Perhaps not surprisingly, as income levels of Canadians rise, so does their expectation of receiving an inheritance, peaking at 48% of those with a household income of more than $100,000 annually, while Canadians in the lowest income category (under $40,000) are most likely to not to know if they will receive one (24%)
• It seems that parents have a higher expectation of receiving an inheritance than those without children (44% vs. 33%)
• Younger Canadians, those aged 18-34, are most likely to expect an inheritance (37%) and also be the most likely to have no idea of their status (32%)

Providing an inheritance, monetary or otherwise, is a large commitment for many parents as it requires proper financial planning, often leaving less for themselves. Most Canadians expecting to receive an inheritance, however, recognize this and insist they would take less if it meant a better life for their parents.

Nearly all (94%) Canadians who expect to receive an inheritance say they would be `willing' (75% very/19% somewhat) to give up half of their inheritance to maintain or improve their parent's lifestyle, compared to just 6% who would not be willing (3% not at all/3% not very) to do this.

• Among those expecting to receive an inheritance, women (96%) are slightly more likely than men (92%) to be willing to give up half their inheritance to maintain or improve their parent's lifestyle. There is no statistical different between younger (95%), middle-aged (94%), and senior (93%) Canadians when it comes to this level of willingness

These are some of the findings of an Ipsos Reid poll conducted between May 13th to 15th, 2014 on behalf of HomEquity Bank. For this survey, a sample of 1,025 Canadians from Ipsos' Canadian online panel was interviewed online. Weighting was then employed to balance demographics to ensure that the sample's composition reflects that of the adult population according to Census data and to provide results intended to approximate the sample universe. The precision of Ipsos online polls is measured using a credibility interval. In this case, the poll is accurate to within +/- 3.5 percentage points had all Canadians adults been polled. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error.

For more information on this news release, please contact:

Sean Simpson
Vice President
Ipsos Reid
Public Affairs
(416) 572-4474
[email protected]

About Ipsos Reid

Ipsos Reid is Canada's market intelligence leader, the country's leading provider of public opinion research, and research partner for loyalty and forecasting and modelling insights. With operations in eight cities, Ipsos Reid employs more than 600 research professionals and support staff in Canada. The company has the biggest network of telephone call centres in the country, as well as the largest pre-recruited household and online panels. Ipsos Reid's marketing research and public affairs practices offer the premier suite of research vehicles in Canada, all of which provide clients with actionable and relevant information. Staffed with seasoned research consultants with extensive industry-specific backgrounds, Ipsos Reid offers syndicated information or custom solutions across key sectors of the Canadian economy, including consumer packaged goods, financial services, automotive, retail, and technology & telecommunications. Ipsos Reid is an Ipsos company, a leading global survey-based market research group.

To learn more, please visit www.ipsos.ca.

About Ipsos

Ipsos is an independent market research company controlled and managed by research professionals. Founded in France in 1975, Ipsos has grown into a worldwide research group with a strong presence in all key markets. Ipsos ranks third in the global research industry.

With offices in 86 countries, Ipsos delivers insightful expertise across six research specializations: advertising, customer loyalty, marketing, media, public affairs research, and survey management.

Ipsos researchers assess market potential and interpret market trends. They develop and build brands. They help clients build long-term relationships with their customers. They test advertising and study audience responses to various media and they measure public opinion around the globe.

Ipsos has been listed on the Paris Stock Exchange since 1999 and generated global revenues of e1,712,4 million (2 274 M$) in 2013.

Visit www.ipsos.com to learn more about Ipsos' offerings and capabilities.