Payroll deduction

When you choose the RRSP+ with the Fonds, you pay less tax and support the local economy.

Benefit from an additional 30% in tax savings1

Because we have a mission to help build collective wealth while supporting the Québec economy and creating future employment here, the governments have agreed to offer tax credits to encourage Québec workers to save even more with the Fonds. An RRSP+ with the Fonds means 30% more tax savings than a regular RRSP. A $1000 RRSP+ costs only $425 or $8.17 per week!2

Make your dreams a reality

Buying your first home or going back to school are just two of the many ways you can leverage your RRSP+ savings.

Support hundreds of local businesses

The Fonds invests in over 3300 companies3 that create, maintain, and save jobs all across Québec. So you most certainly know someone who works at one of these companies!

Get more RRSP+ info

Notes

1 The Fonds de solidarité FTQ's shareholders will receive 15% in tax credits from the Québec government and 15% from the federal government. They are capped at $1,500 per fiscal year, which represents a $5,000 purchase of shares of the Fonds de solidarité FTQ.

2 Example based on the 2021 taxation year for an individual with an annual taxable income of $40,000, at a marginal rate of 27.53%, who gets paid 52 times a year and receives tax savings immediately on each paycheque. The calculated amounts are estimates that can vary according to your tax situation.

3 As at May 31, 2020.

Why opt for automatic savings?

Automatic savings are by far the easiest and most effective way to contribute to your RRSP+.

Payroll deductions or automatic withdrawals: Discover the option that works best for you.

1

Payroll deductions


Thousands of companies participate in the Fonds' payroll deduction program. Ask your employer for details. For each pay, a fixed amount is deducted and deposited in your RRSP+.

  • You decide the amount to be deducted
  • You can change or stop the deduction at any time
  • You will benefit from tax savings with each pay

2

Automatic bank withdrawals


Your contributions are withdrawn directly from your bank account according to the frequency and amount you choose.

  • You decide the amount to be withdrawn
  • You determine the frequency of withdrawals (weekly, bimonthly or monthly) 
  • You can change, cancel or interrupt the withdrawals at any time 
  • The minimum amount per withdrawal is only $10

Calculate your savings with payroll deductions

Determine the amount you want to set aside on each pay, and get your tax return immediately!

Calculate your payroll deduction

Amount to be invested

$
$

Result

Real cost to you: $0.00

Amount deducted per pay $0.00
RRSP deduction $0.00
+ 30% tax credit $0.00
Real cost $0.00

Indicate $0.00 per pay in the 'Amount to be invested' field when you fill out your contribution form.

Notes

Calculated amounts are estimates which may vary depending on your tax situation. Note that the income tax brackets and tax rates used are established according to the current fiscal rules as of January 1, 2021.

The Fonds de solidarité FTQ's shareholders will receive 15% in tax credits from the Québec government and 15% from the federal government. They are capped at $1,500 per fiscal year, which represents a $5,000 purchase of shares of the Fonds de solidarité FTQ.

Save more for less: Choose payroll deduction for your RRSP+.

homme-sourire-reveur

Stephanie, 31 years old

Profession
Coordinator

Annual income
$40,000

Savings habit
$50 every two weeks

Financial goal
Just starting to save for retirement

 

Stephanie did her calculations and she determined she could save $50 every two weeks without tightening her belt too much. Because her employer offered payroll deductions and she could immediately benefit from her deductions on each pay, she decided to contribute to an RRSP+ in this way.

With the Fonds calculator, she learned that her pay would be only $50 less if she contributed $118 per pay to her RRSP+ because her deductions were credited to her immediately with each pay.

So now Stephanie contributes $3068 annually to her RRSP+ without breaking the bank.

If she had chosen instead to make automatic contributions of $50 every two weeks to her RRSP, she would only have saved $1300. So she was able to accumulate an additional $1768 in her RRSP by using payroll deductions!

Notes

Example based on the 2020 taxation year for an individual with an annual taxable income of $40,000, at a marginal rate of 27.53%, who gets paid 52 times a year and receives tax savings immediately on each paycheque. The calculated amounts are estimates that can vary according to your tax situation.

Did you know that an RRSP+ can help you realize your future plans?

Whether you've just started saving or you're nearing retirement, your savings with the Fonds are there for whatever you want out of life.

Buying a first home

With the RRSP+ and the HBP, it's easier to finance the purchase of your first home and become an owner.

Going back to school

Whether you are updating your skills or making a fresh start, the RRSP+ lets you go back to school more affordably.

Planning your retirement

Retiring with complete peace of mind takes some work. Save with your RRSP+ and make sure your retirement fits you.

An accessible RRSP, when challenges arise

The RRSP+ with the Fonds is also there for you whenever life throws you a curve.

Most Frequently Asked Questions

RRSP+
What are payroll deductions?
Payroll deductions are an automatic way to save by contributing to your RRSP directly on your paycheck and benefiting from an immediate tax credit.
More Details : What are payroll deductions?
RRSP+
How do I know if my employer offers payroll deductions?
To learn if your employer offers this feature, the simplest way is to check with your company’s payroll service or call us at 1 800 567-3663.
More Details : How do I know if my employer offers payroll deductions?
RRSP+
How to contribute to your RRSP+ via payroll deductions.
If your employer offers the RRSP+ via payroll deductions, all you need to do is sign up and start contributing online.
More Details : How to contribute to your RRSP+ via payroll deductions.
RRSP+
What is the difference between payroll deductions and automatic withdrawals?
Unlike automatic withdrawals, payroll deductions let you enjoy tax savings with each paycheck.
More Details : What is the difference between payroll deductions and automatic withdrawals?
My Online Account
How do I modify or discontinue my payroll deductions?
Log in to your account, then click on "My contributions".
More Details : How do I modify or discontinue my payroll deductions?
RRSP+
What can I do with my RRSP+?
Whether you are just starting out saving, buying a house, going back to school or you’re ready to retire, your savings with the Fonds are always there for you.
More Details : What can I do with my RRSP+?

A Saving Services agent will be delighted to assist you.

For service tailored to your needs, call us

Monday to Friday, 8:30 a.m. to 5 p.m.

1 800 567-3663
Legal Notes
Please read the prospectus before buying Fonds de solidarité FTQ shares. Copies of the prospectus may be obtained on the Website fondsftq.com, 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.
Prospectus_EN ( 641 Kb )