—it would still be a higher amount. Since RRSPs were created, people have piled away hundreds of billions of dollars. As the population gets older, this money is starting to be taken out. The aging population means that the pace at which people will withdraw their RRSP and RRIF money will speed up. And with an aging population, contributions will remain stagnant or drop.
On February 1st, 2007. See this statement in context.