Going back to school

Under the Lifelong Learning Plan (LLP), you can withdraw amounts from your RRSPs to finance training or education for you or your spouse or common-law partner.

You cannot participate in the LLP to finance your children’s training or education, or the training or education of your spouse’s or common-law partner’s children.

For more information on going back to school, please refer to the Fonds’ prospectus.

How does it work?

Contact Saving Services to have your request evaluated and to obtain the necessary documents.
What are the eligibility criteria?

The shareholder or his or her spouse must have returned to school on a full-time basis, must be enrolled in a program requiring at least three months of schooling and must not have been a full-time student enrolled in such program at the time of his or her subscription of the Fonds.

A request under this criterion cannot be submitted if, during his or her studies, the student receives non-refundable grants or financial support from government or other programs or any other imcome, including employment income exceeding 75% of his or her employment income before his or her studies began.

In order to benefit from the government continuing education assistance program, the shareholder must agree to make his or her repayments to the Fonds.

What are the qualifying educational programs?

To participate in an LLP, the student must be enrolled in a qualifying educational at a designated educational institution. The qualifying educational institutions are listed in Pamphlet P105, Students and Income Tax, which can be found on the Canada Revenue Agency website.

What amount can I withdraw from my RRSP?

All shares held for at least two years are eligible, up to a maximum gross amount of $20,000. The Policy allows a shareholder who returns to school to take advantage of two instalments only if one is to return to the same studies.

Which documents must I provide?

If the shareholder or his or her spouse has already begun studying: the Fonds’ “Purchase-by-agreement request(redemption) – Return to full-time studies for at least three months” form (provided by Saving Services) and the Fonds’ “Declaration by Educational Institution” form.

If the shareholder or his or her spouse has not yet begun studying: the Fonds’ “Purchase-by-agreement request(redemption) – Return to full-time studies for at least three months
” form (provided by Shareholder Services) and a confirmation from the educational institution of registration for full-time studies, the program start date and its duration

AND

A copy of the tuition fee statement, including proof that 50% of the fees or a minimum of $500 was paid.

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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