The Fonds de solidarité FTQ can redeem all shares held for at least 730 days and acquired before the beginning of the phased retirement.
The amount of the eligible redemption is determined when the first request is submitted, up to:
• An amount equal to the lost earnings for the year;
or, if the amount is lower,
• The balance in the account divided by the number of years remaining to full retirement.
By taking a phased retirement, you will lose $20,000 in earnings. You have $40,000 of eligible shares in your account and are four years away from retirement. The eligible redemption is calculated as follows:
$40,000 = $10,000
The eligible redemption is therefore $10,000 since this amount is less than the earnings lost as a result of the phased retirement.