What is payroll deduction?

Payroll deduction is a systematic savings method that gives your employees the opportunity to contribute to their Fonds de solidarité FTQ RRSP directly from their pay while benefiting from generous additional tax credits of 30%*.

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

How does it work?

There are three possible scenarios:

  1. One or more employees let you know that they would like to contribute through payroll deduction. You then contact us.
  2. Employees contact the Fonds directly with their request. In this case, the Fonds will let you know about the request and provide you with all the information you need.
  3. The Fonds contacts you to introduce its services and explain the process in details.

Payroll deduction is a simple operation that you, your Payroll department or your payroll service provider can perform. However, it must take into account the tax reductions selected by the employee.

The Fonds send you a remittance notice every month reminding you to make your payment before the 15th of the following month.

Your payment can be sent electronically or by mail, either by you, your Payroll department or your payroll service provider. The payment is sent along with a detailed list of the amounts collected for each employee.

The Fonds will send you a change notice if any payroll deduction changes need to be made to your employees’ pay or if one of your employees wishes to start contributing through payroll deduction.

Payroll deduction: An advantageous alternative to the VRSP

Did you know that the Fonds’ payroll deduction is an advantageous alternative to the Voluntary Retirement Savings Plan (VRSP)? As a matter of fact, an employer offering this systematic savings method will not have to implement a VRSP. Certain conditions may apply.

Learn more about the benefits of payroll deduction in light of the VRSP.

You want to implement payroll deduction?

  • Contact us at

    1 855 631-4981

Contact us

  • 1 855 631-4981

    Mon. to Fri. 8:30 am to 4:30 pm

  • Fax: 514 383-2506

  • By e-mail