FAQ

Topics

  • About the Fonds

    1. What is the Fonds de solidarité FTQ’s mission?

      The Fonds de solidarité FTQ has been driving our economy since 1983. With net assets of $11.2 billion, this development capital investment fund calls on the savings of Quebecers.

      Its main mission is to contribute to Québec's economic growth by creating and protecting jobs through investments in small and medium-sized businesses in all spheres of activity.

      Aside from investing capital, the Fonds is committed to supporting the growth of its partner companies by offering value-added services such as economic training.

      Finally, the Fonds seeks to encourage Quebecers to save for retirement and to offer its hundreds of thousands of shareholders-savers a reasonable return over and above the outstanding tax benefits they receive by purchasing Fonds shares.

      Find out more about the Fonds de solidarité FTQ’s mission
    2. What is the Fonds de solidarité FTQ’s annual return?

      The return of the Fonds de solidarité FTQ fluctuates based on its share value, which is updated twice a year, in January and in July, on the basis of the financial statements as at November 30 and May 31. The net assets of the Fonds de solidarité FTQ are comprised of well-diversified investments.

      See the annual return and the share value.

      View the financial results for the last five years.

      Read our most recent annual report or any other related document.

    3. How many jobs are created or maintained thanks to the Fonds?

      More than 176 000 jobs were created or maintained because of the Fonds over the last year*. The fact is, most people know at least one person whose job was made possible because of the Fonds.

      The Fonds’ stature allows it to support such Quebec flagship companies as Bombardier, Metro, Transcontinental and Air Transat while continuing to focus on SMBs (80% of the Fonds and its regional funds current partners have fewer than 100 employees).

      *For the year ended May 31, 2015.

    4. What is the percentage of assets invested in Québec economy by the Fonds?

      With net assets of $12.2 billion, the Fonds, as of November 30, 2016. Development capital investments in Québec: $287 million

    5. Where can I change my address?

      To notify the Fonds of your new address, please call Shareholder Services at 1-800-567-3663 or log into your online account. Once you're logged in, access the «Contact us» section in the top menu and then click the «Moving?» link at the bottom of the page.
    6. How can I apply for a job at the Fonds de solidarité FTQ?

      At the Fonds de solidarité FTQ, we offer nothing less than a stimulating job that lives up to your ambitions and gives you the opportunity to realize your full potential while benefitting from very attractive work conditions.

      View our job offers.

  • The RRSP with the Fonds

    1. What are the advantages of an RRSP with the Fonds de solidarité FTQ?

      By choosing an RRSP with the Fonds, you get two tax benefits.

      ADVANTAGE #1: THE TAX CREDITS
      The RRSP with the Fonds entitles you to two tax credits that reduce the income tax you have to pay by 30%. The maximum amount eligible for these tax credits is $5,000 per year, which represents tax savings of $1,500 ($750 from the Québec government and $750 from the federal government).

      ADVANTAGE #2: THE TAX DEDUCTION
      You also get the usual tax deduction granted by the two levels of government to RRSP holders. This tax savings can range from 28.5% to 53.35%, depending on your tax rate.

      Try our calculators

    2. What is an RRSP deduction?

      A Registered Retirement Savings Plan (RRSP) is a plan that helps you accumulate retirement savings. By investing in an RRSP, you obtain a tax reduction that is based on your marginal tax rate and that allows you to earn investment income on a tax-deferred basis and reduce your taxable income.

      To learn everything about RRSPs, visit the RRSP Basics section of our website. You can also visit the Canada Revenue Agency’s website.

    3. Am I entitled to the Québec and federal tax credits?

      Purchasing shares of the Fonds de solidarité FTQ entitles you to two income tax credits totalling 30% of the amount invested, i.e. a 15% credit applicable against your Québec income tax and a 15% credit.

      Based upon Québec and federal tax laws, you may therefore deduct from the income tax you have to pay a total amount equal to 30% of the amount paid to purchase Fonds de solidarité FTQ shares during the year (or within 60 days following the end of the calendar year). 

      For more information on this topic, read the prospectus.

    4. Is there an age limit for contributing to an RRSP with the Fonds?

      Any taxpayer aged 65 or older can contribute to an RRSP with the Fonds but cannot obtain the labour-sponsored fund tax credits, as he or she is no longer eligible for them, as statedin the income tax guide. However, you could benefit from the tax credits one last time by subscribing in the first 60 days of to the year you will turn 65 and declaring this subscription to the tax year prior to the year you will turn 65.

      A taxpayer may contribute to an RRSP until the end of the year during which he or she turns age 71. 

      The taxpayer may contribute to his or her spouse’s RRSP until the end of the year during which his or her spouse turns age 71.

    5. Although I will be turning 65 this year, can I contribute through lump-sum payment? Is there another way for me to contribute?

      If you wish to contribute through lump-sum payment in the year you turn 65, a message will inform you that you are no longer eligible to the labour-sponsored fund tax credits and ask if you want to continue. It is still possible to make a contribution by answering "Yes". We put forward this message to make sure you are aware of the restriction and of the need to claim the credits for the previous year.

      It is also possible to make a contribution, you may pay for the shares by cheque or bank transfer.

      Please note you could benefit from the tax credits one last time by subscribing in the first 60 days of to the year you turn 65 and declaring this subscription on the tax year prior to the year you turn 65.

    6. What is the deadline for contributing to an RRSP for a particular year?

      You have until the 60th day of the following year to contribute to an RRSP for a particular year. See this year contribution deadline.

    7. What are the various ways to contribute to my RRSP with the Fonds?

      You have your lifestyle. We offer you various ways to contribute to your RRSP. Make your choice!

      1) Periodic payments: 

          - Payroll deduction 
          Your RRSP contributions are deducted from your pay by your employer. Find out more

          - Pre-authorized withdrawals 
          Your RRSP contributions are directly withdrawn from your bank account. Find out more

      2) Lump-sum payment
      There are several ways to make a lump-sum payment:

      • Very easily, by using the secured My Online Account site;
      • Through the “Online Bill Payment” feature available on the transactional sites of many financial institutions;
      • By Interac debit card at one of our service points (check beforehand the daily purchase limit assigned to your debit card with your financial institution);
      • By cheque, money order or bank draft to the order of the FTQ. 
          
          Fonds de solidarité 
          Montréal Office 
          8717 Berri Street 
          Montréal, Québec 
          H2M 2T9

    8. How do you calculate tax savings?

      Tax savings are calculated as follows:

      RRSP products

      The Fonds shareholders' tax credits of 30% plus an RRSP deduction ranging from 28.5% to 53.35%, depending on your tax rate.

      Example: For a shareholder subject to a tax rate of 42.4%, the tax savings resulting from a $1,000 investment amount to $724 ($300 from the tax credits and $424 from the tax deduction).


      Non-RSP products

      Only the Fonds shareholders' tax credits of 30%.

      Example: The tax savings resulting from a $1,000 investment amount to $300.

    9. Can I invest more than $5,000 a year in the Fonds?

      Yes. You can contribute more than $5,000 to an RRSP with the Fonds and obtain the RRSP deduction on the amount if your contribution limit allows. However, the maximum annual investment eligible for the 30% in tax credits is capped at $5,000. 


      To buy shares of the Fonds de solidarité FTQ and hold them outside an RRSP, please contact our Shareholder services or visit one of our service points.
    10. Can I transfer an RRSP from my bank to the Fonds de solidarité FTQ without paying taxes?

      No. Only a physical person can buy shares, and no direct transfer from another plan can be used to purchase shares. For example, you cannot use the amounts available in an RRSP you hold in another institution to purchase shares.
    11. Does the Fonds charge an administration fee?

      There is a $25 fee to open an account. Once you are enrolled, there are no other fees (e.g. administration, transaction).
    12. What are the conditions for signing up for My Online Account?

      You must have a Personal Shareholder Number (PSN). This number appears on all personal documents the Fonds sends you (e.g. Statement of Transactions), except for the Relevé 10 forms. If you do not have a PSN, please contact Shareholder Services.
    13. Are there fees for using My Online Account?

      No. There are no fees for using My Online Account. It’s free!
    14. What is a local representative (LR)?

      The Fonds’ local representatives (LRs) are promoting, on a voluntary basis, the Fonds in their workplace.

      Their primary objective is to make their colleagues aware of the importance of saving for retirement. Over and above promoting the Fonds, they play an educational role that benefits everyone.

  • How to use your RRSP with the Fonds

    1. How can I use my RRSP with the Fonds?

      You may use your RRSP before age 65 under certain conditions*. Generally, when you choose to invest in an RRSP, your goal is to save for your retirement! It is a long-term investment that provides you financial security.

      However, in addition to retirement, there are several criteria under which you may withdraw amounts from your RRSP: 
          • Buying a first home
          • Going back to school
          • Growing your business.

      See the 16 other redemption opportunities.

      * Consult our Retiring section to find out all the details.

    2. Are my shares “frozen” until age 65?

      No. Amended over the years, the Fonds’ redemption and purchase-by-agreement policy is now better suited to its shareholders’ needs. As of age 45, the Fonds will automatically redeem your shares at retirement, provided you meet the requirements in the relevant criterion and submit the required documents. See all the ways to use your Fonds RRSP before retirement.
    3. I’m retired. Do I have to transfer or redeem my Fonds shares?

      If your shares are registered in an RRSP and you are not yet 71 years old (the age limit for contributing to an RRSP according to the Income Tax Act), you do not have to redeem or transfer your Fonds shares to another savings vehicle.

      There is no age limit for non-RRSP shares.

      You will therefore continue to enjoy the returns that come with an RRSP with the Fonds while doing your part to help drive the local economy.

    4. Can I use my RRSP with the Fonds to participate in the home buyers’ plan (HBP)?

      Yes, provided you have already used up all your other RRSPs and you agree to make the repayments to your RRSP with the Fonds according to the established conditions.

    5. Can I repay my HBP to the Fonds even if my HBP is with another financial institution?

      Yes, and it pays to do so, because you will get 30% in tax credits on a share purchase of up to $5,000 per year. Remember though that even if you make your repayments to the Fonds, you must declare the repayment (or RRSP purchase) on Schedule 7 of your tax return, as explained in the instructions provided with the Relevé 10 slip.

  • Tax receipts (Relevé 10)

    1. Where can I obtain my tax receipts (relevé 10)?

      You can view and download your tax receipts in the «Your portfolio» section of My online account.
    2. To which tax year does the Relevé 10 of the first 60 days apply?

      The tax credits granted to labour-sponsored funds for contributions made in the first 60 days of a year can be claimed on the tax return for either the previous year or the current year. 

      The RRSP deduction for “First 60 Days” contributions can be claimed on the previous year’s tax return or kept for a subsequent year. If you choose to carry forward this deduction, make sure to enter the amount as unused contribution in Schedule 7 of your federal return.

    3. Where is the copy of the Relevé 10 slip for me to submit with my provincial income tax return?

      Revenu Québec does not require a copy of the Relevé 10. It therefore does not come with a copy; keep the original in your files.
  • Employer solutions

    1. What is payroll deduction?

      Payroll deduction is a systematic savings method that gives your employees the opportunity to contribute to their RRSP with the Fonds directly from their pay while benefiting from generous additional tax credits.

      Payroll deduction can also allow them to get their RRSP deduction on each pay. The impact on their net pay will therefore be minimal!

      To implement payroll deduction in your organization, please contact Employer Services.

    2. Is the Fonds’ payroll deduction an alternative to the Voluntary Retirement Savings Plan (VRSP)?

      Yes. Businesses that already offer a labour-sponsored fund RRSP with contributions through payroll deduction, such as the Fonds de solidarité FTQ’s payroll deduction, will be exempted from implementing a VRSP.

      Learn more about the advantages of a VRSP with payroll deduction and the simple 3-step process.
    3. What is VRSP?

      The objective of the VRSP bill is to encourage Québec workers to save for retirement. Employers with five or more employees will gradually have to comply with the bill and offer their employees a savings plan.

      Employers who already offer the RRSP with the Fonds with contributions through payroll deduction do not have to set up a VRSP.

      For more information about the VRSP, visit the Régie des rentes du Québec website.

  • Employers Extranet

    1. I forgot my password. How do I reset it?

      To reset your password, click “Forgotten user ID or password?” on the login page. An email will be sent to you with a secure link to reset your password.
    2. I forgot my user ID. How can I reset it?

      To recover your user ID, use the “Forgotten user ID or password?” link on the login page. An email containing your user ID will be sent to you.
    3. I can’t log in. What do I do?

      Please contact Employer Services at 1 888 385-3723, Monday to Friday, 8:30 a.m. to 4:30 p.m.
    4. How do I register for the Extranet site?

      To register, contact Employer Services at 1 888 385-3723, Monday to Friday, 8:30 a.m. to 4:30 p.m.
    5. Who can use the Employers Extranet?

      Whoever is responsible for remittances, payments or payroll change notices. It can be employees within the company or a payroll provider.
    6. Are there user fees?

      No, the Employers Extranet is free of charge.