I'm a self-employed worker, and my income has decreased. Can I redeem my RRSP+?

Yes. If your net income has been decreased for a period of six months or more, you can draw on the savings in your RRSP+.

If you are self-employed, you know it isn’t always easy to plan your finances because your income varies depending on the contracts you receive, which are often hard-earned. Worse, when contracts are scarce, your income may be reduced to zero, and you may not be eligible for financial assistance to compensate for the shortfall. One of the Fonds’ redemption criteria could help mitigate this situation should it occur.

* See other situations of income decrease that could allow the withdrawal of your RRSP+.

Requirements:

The shareholder or their spouse is self-employed

AND

must show that the decrease in net income is involuntary and not cyclical

AND

must show that the net incomeafter the involuntary decreasehas decreased by 20% or more for a minimum period of six consecutive months

AND

must have liquidated all redeemable investments (including any other RRSP), the purchase of the shares being the last resort.

AND

For subsequent requests, the shareholder or their spouse must show that the involuntary decrease still exists and that net income has decreased by 20% or more for a new minimum period of six consecutive months.

Documents required:

The Fonds de solidarité FTQ form

AND

recent confirmation from clients of cancellation or termination of contracts or reduction in the number of contracts

AND

recent proof of all net income for the period of involuntary decrease in income for six full consecutive months or proof of absence of income, as applicable

AND

proof of all net income for the same period last year

AND

proof that all redeemable investments have been liquidated or cannot be redeemed

AND

if the involuntary decrease in income involves the shareholder’s spouse recent proof of all net family income for the period of involuntary decrease for six full consecutive months or proof of absence of family income, as applicable

AND

proof of all net family income for the same period last year

AND

proof that all redeemable family investments have been liquidated or cannot be redeemed.

Eligible shares:

All shares held. Shares purchased after the involuntary decrease in net income cannot be redeemed under this criterion.

Subsequent share acquisition:

One year after purchase by the Fonds de solidarité FTQ.

Disbursement terms and conditions:

Payments not exceeding $15,000 net each. A minimum six-month interval is required between each payment.

Do you have more questions?

Our agents will be pleased to answer any questions you may have at:

1-800-567-3663
Legal Notes
Please read the prospectus before subscribing to shares of the Fonds de solidarité FTQ. 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 indicated rates of return are the historical annual compounded total returns including changes in share value and reinvestment of all dividends and do not take into account income taxes payable by any security holder that would have reduced returns. The shares of the Fonds de solidarité FTQ are not guaranteed, their value changes and past performance may not be repeated.