In an era of economic uncertainties -- including anticipated changes to Canada's pension system -- it's time to get serious about planning for your retirement, says an investment advisor.

Canadians can no longer expect that their company or government pensions will be enough for a comfortable life after 65, Bev Moir, a senior wealth advisor at ScotiaMcLeod, told CTV News Channel Saturday.

With a looming deadline for Registered Retirement Savings Plan contributions, people should consider the option, she said.

The RRSP contribution deadline for the 2011 tax year is Feb. 29. The maximum contribution limit is $22,450, but if you haven't taken advantage of the plan in previous years, you can add more funds.

The advantage of an RRSP, a popular savings plan, is that it's exempt from tax until the money is withdrawn from the account, Moir said. The money can also be used toward another major goal, such as purchasing your first home.

"It's very important that one has a comfortable retirement with comfortable savings," Moir said. "People need to be more self-reliant."

With speculation about reforms to Canada's pension system, including possible cuts to the Old Age Security program, Moir said many Canadians are realizing they have to take charge of their finances and plan better.

Company pensions have been disappearing over the years and many of them are inadequate, she said. It's also important to remember that if your annual income is above $69,000, the government will start reducing your OAS payments, Moir added.

Those who don't want to lock their money into an RRSP account can take advantage of a tax-free savings account the government introduced four years ago. Up to $5,000 can be deposited in the account each year.