There are a couple serious misconceptions in your post. 

First, you said "most Canadians in their early earnings years are not earning high incomes, their marginal tax rate is low, so the tax deduction that RRSPs provide has low utility". This is incorrect, because the deduction does not have to be used in the year of the contribution. They can be carried forward indefinitely until your marginal tax rate is higher if you desire to. 

Second, you said "management expense ratios will help wipe out the real earnings of your fund". If you purchase individual securities instead of mutual funds or ETFs it costs NOTHING to hold individual securities. In fact I could purchase $100K of a Canadian bank for $6.95, and hold it indefinitely for nothing more. 

You also mention inflation rates, which will be eclipsed by returns from 'sound' investments. 

Finally, what is a TSIF?  I think you mean TFSA.