Redeeming my shares at 65

You are 65 or older but are not yet retired? You may redeem your shares.

Please note that 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 could therefore continue to enjoy the returns that come with your Fonds FTQ shares while doing your part to help drive the local economy. 

7 information items to guide you

1. What are the eligibility criteria for share redemption?

You must have reached age 65.

2. Which documents must I complete?

You must complete the Fonds’ form (provided by Shareholder Services) which includes the section entitled “Shareholder’s Solemn Declaration” stating that you are 65 years of age or older.

Contact Shareholder Services to have your request evaluated and to obtain the necessary documents.

3. Shares eligible for redemption

The Fonds can redeem all shares held for at least 730 days.

4. Share redemption price

The share price is usually published around January 5 and July 5 of each year. Shares redeemed after those dates are purchased at the current share price.

5. Income taxes

When you cash in all or part of an RRSP, the amount is taxable and must be included in your income tax return in the year you withdraw the funds. Income tax on RRSP shares is calculated based on the rates in effect at the time of redemption.

However, no tax is withheld if you transfer your RRSP with the Fonds to another plan such as another RRSP, an annuity or a Registered Retirement Income Fund (RRIF).

Tax withheld on amounts withdrawn from an RRSP*

Amount cashed in (gross)

 

Québec

 

Federal

 

Total

$5,000 or less

 

16%

 

5%

 

21%

$5,000.01 to $15,000

 

16%

 

10%

 

26%

$15,000.01 or more

 

16%

 

15%

 

31%

* These figures are subject to change.

6. Request processing time

If you have provided all required documents, allow a maximum of 30 days from the time the Fonds receives your request.

7. Purchasing shares after a redemption

You may purchase additional shares of the Fonds after you have redeemed shares for retirement purposes. However, you will not receive any tax credits for those shares.

For more information on retiring, please refer to the Fonds’ prospectus or contact Shareholder Services.

Discover SÉCURIFONDS, a financial services firm created by the Fonds de solidarité FTQ, specializing in retirement savings solutions.

Please read the prospectus before investing. Copies of the prospectus may be obtained on its Website, from a local representative or at the offices of the Fonds de solidarité FTQ. The shares of the Fonds de solidarité FTQ are not guaranteed, their value changes and past performance may not be repeated.


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