How does it work?

To benefit from this plan, your employer must offer the RRSP+ via payroll deduction with the Fonds. This option allows you to choose the amount that will be deducted from each paycheque and deposited in your RRSP+.

Because the amount is taken directly from your paycheque, you benefit immediately from an additional 30% in tax savings[1] on top of the standard RRSP deduction. For example, a $100 contribution to your RRSP+ could end up costing you only $43.50.[2]

Tip

To find out if your employer offers the RRSP+ via payroll deduction with the Fonds, simply ask your payroll department or call us at 1-800-567-3663.

Payroll deductions


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
  • Thousands of companies have signed up for the Fonds’ payroll deductions program. Find out more from your employer, learn how to start contributing to an RRSP+ or sign up for online payroll deductions now!

See how fast it can add up!

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

New eligibility requirement for the 30% in RRSP+ tax credits

In its 2023–2024 budget, the Québec government has introduced a measure that could affect your eligibility for the 30% tax credit for a labour-sponsored fund in 2024.[1]

Am I eligible for the additional 30% in tax credits in 2024?

Yes, if your 2022 Québec taxable income was less than $112,656.

However, if your taxable income in 2022 was $112,656 or more, you could be not eligible for the additional tax credits in 2024. However, you can still contribute to an RRSP+ and benefit from the standard RRSP deduction while supporting the local economy.

Learn more about this new eligibility requirement

Calculate your payroll deduction

Was your taxable income in 2022 less than $112,6561?

You can find your taxable income on line 299 of your Québec income tax return.

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, 2024.

The benefits of payroll deductions

Tax savings

Receive an extra 30% in tax credits¹ when you contribute to an RRSP+ with the Fonds, in addition to the standard RRSP deduction.

Simplicity

If your employer offers payroll deductions, you can set up your contributions in just minutes from your online account. Modify or cancel your contributions at any time.

Peace of mind

Once you've set up your payroll deductions, you can contribute throughout the year to work toward your savings goals without having to think about it, even if share issuance is limited.

Deduction at source

Reduce the net amount of your withdrawals while benefiting from tax savings with every paycheque.

Most frequently asked questions

RRSP+
What are payroll deductions?
Payroll deductions is an automatic savings method offered by your employer that allows you to contribute to your RRSP+ directly from your paycheck and receive 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.
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?
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?
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?
Non-registered savings
What does it means to buy non-RRSP+ shares?
It means you can buy shares that aren't registered in an RRSP+.
More Details : What does it means to buy non-RRSP+ shares?

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

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  • 1

    The acquisition of shares of the Fonds de solidarité FTQ may give rise to labour-sponsored fund tax credits. The tax credits amount to 30%, namely 15% at the Quebec level and 15% at the federal level, and are limited to $1,500 per fiscal year, which represents a $5,000 purchase of shares of the Fonds de solidarité FTQ. Under the 2023-2024 provincial budget, only individuals whose taxable income in Quebec for the 2022 taxation year was less than $112,656 will have access to 30% tax credits for the 2024 taxation year. Please note, however, that this measure has not currently been the subject of a bill or legislative amendment and could therefore be subject to modifications.

    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

    Example based on the 2024 taxation year for an individual with an annual taxable income of $40,000, at a marginal rate of 26.50%, who receives tax savings immediately on each paycheque. The calculated amounts are estimates that can vary according to your tax situation.