How does it work?

Automatic bank withdrawals are quick to set up and simple to use. Saving regularly, a little bit at a time, is much easier on the budget.

Your contributions are automatically withdrawn from your bank account at set intervals. You decide how much you want to save, up to a maximum of $500 per month, and you can make changes directly via your online account as your needs and savings goals evolve.

You'll receive 30% in tax credits on your RRSP+[1] at the end of the fiscal year when you file your income tax return.

Automatic bank withdrawals are also possible if you have a spousal RRSP+ or a non-RRSP+ account with the Fonds.

Note:

Cessation of new automatic bank withdrawals agreements

It will not be possible to set up new preauthorized withdrawals or to increase current preauthorized withdrawals for the current financial year.

This measure does not affect contributions made through payroll deductions or existing preauthorized withdrawal agreements.

How do I modify my automatic bank withdrawals?

To decrease the amount of an existing preauthorized withdrawal agreement

Call us at 1-800-567-3663
(Monday to Friday, 8:30 a.m. to 5 p.m.).

To cancel an agreement

Log in to your online account.

Calculate my tax savings

My annual taxable income is

I would like to contribute:

0
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$5,000

Tax savings: $1,412.50

tax return with a traditional RRSP

tax return with the Fonds' RRSP+

Thanks to the standard RRSP deductions and the additional 30% tax savings unique to the Fonds, your RRSP+

will only cost you $1,087.50

for an annual savings of $2,500

Schedule my withdrawals

Notes

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.

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, 2023.

Why switch from one-time payments to automatic bank withdrawals?

There are several advantages to saving via automatic bank withdrawals:

Tax savings

Receive 30% in RRSP+ tax credits* in addition to the standard RRSP deduction.

Freedom

You determine how often and how much you want to contribute. It only takes a few minutes in your online account.

Peace of mind

Once you've set up your automatic withdrawals, you'll be making regular contributions to your savings goals without even having to think about it.

Regular contributions

Set up your automatic bank withdrawals today and contribute to your RRSP+ throughout the year, even if share issuance is limited.²

Most frequently asked questions

RRSP+
What are automatic bank withdrawals?
Your RRSP contributions are drawn directly from your bank account.
More Details : What are automatic bank withdrawals?
RRSP+
Is there a cap on the contribution amount that can made by automatic bank transfer?
Our fundraising goal for the current fiscal year has been achieved. It is therefore not possible to make new contributions by preauthorized bank withdrawal.
More Details : Is there a cap on the contribution amount that can made by automatic bank transfer?
RRSP+
How can I contribute to an RRSP+ at the Fonds?
Only new contributions via payroll deductions are currently accepted in order to respect the equilibrium of the Fonds' business model
More Details : How can I contribute to an RRSP+ at the Fonds?
RRSP+
What is the difference between payroll deductions and automatic withdrawals?
Payroll deductions let you enjoy tax savings with each paycheque. Automatic withdrawals, on the other hand, are deducted from your bank account and you receive your tax savings at the end of the fiscal year.
More Details : What is the difference between payroll deductions and automatic withdrawals?
RRSP+
Is it possible to contribute more than $5,000 a year to the Fonds?
Yes. You may contribute more than $5,000 per calendar year.
More Details : Is it possible to contribute more than $5,000 a year to the Fonds?
Getting Started
How do I open an account online?
Signing up for an account is an easy and secured process. It only takes a few minutes!
More Details : How do I open an account online?

Questions?

Call us!

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

1-800-567-3663

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  • 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.

    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.

    2

    In the event that share issuance is limited, signing new subscription agreements with automatic withdrawals or increasing automatic withdrawals under existing agreements may not be permitted. This measure does not affect FTQ savers who contribute through payroll deductions, who already contribute through automatic withdrawals, or who would like to purchase FlexiFonds mutual fund units.