TORONTO -- A new RBC poll suggests Canadians are increasingly concerned about their ability to finance retirement because of saving for their children's education and caring for aging parents.

Royal Bank (TSX:RY) surveyed Canadians aged 18 and older about their retirement planning ahead of the busy RRSP season.

More than 40 per cent of all respondents said that saving for their children's education has or will impact their ability to save for retirement. That's higher than the 36 per cent who expressed those concerns in last year's survey.

Some 28 per cent of respondents said they were strongly or somewhat concerned that caring for aging parents would also impact their retirement savings, up from 24 per cent last year.

According to the 23rd Annual RBC RRSP Poll, concern about those two issues grew larger among respondents in the 18 to 54 age group.

Some 48 per cent in that group are concerned their ability to save for retirement will be impaired by saving for their children's education, while 36 per cent fear taking care of their aging parents impacts on their ability to save.