In a recent community post over at Bioware, Jack Lamden from the Quality Assurance department informs us that we should keep our Mass Effect 1 saves for the upcoming sequel. Here is the original question by Intangible 360, one of the community members:

"I came here to say the same. I am excited to see some new information but can anyone from Bioware confirm that game saves are still able to be transferred? I really do hope that you haven't backed down on this."

And the official answer is just this: "Hang on to your Mass Effect 1 saves."

Oh, by the way, be sure to check out the official teaser trailer!