Can I repay debts with my RRSP+?

Only if it’s a debt that causes an interruption of an essential service or you’re the subject to an essential good seizure

If you experience a service interruption due to payment defaults, or if you are subject to legal seizure of essential goods, you may be able to draw on your RRSP+ with the Fonds. Debts related to the following goods and services are eligible:

  • the shareholder’s or their spouse’s vehicle;
  • the shareholder’s or their spouse’s salary;
  • the principal residence;
  • public utilities at the principal residence.


The shareholder must not qualify for any other criterion of the Purchase-by-Agreement Policy


must show that the recourse jeopardizes the shareholder’s and/or their spouse’s salary or automobile, the principal residence or a public utility


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

Documents required:

The Fonds de solidarité FTQ form which includes a statement by the shareholder

explaining the reasons underlying the recourse


confirming that they have the necessary amounts to pay the balance if the redemption of the shares is not sufficient to avoid the recourse


attesting to their financial inability to pay the recourse


proof of the recourse against the following assets or essential services

For the shareholder’s or their spouse’s salary

  • formal demand for payment from a government
  • a judgment against the shareholder ordering the payment of a sum of money

proof that the shareholder or their spouse has a garnishable salary.

For the shareholder’s or their spouse’s automobile

  • notice of loss of benefit of a term with lease agreement
  • repossession notice
  • notice of seizure of the vehicle following a court order

For the principal residence

  • final notice from the hypothecary creditor
  • prior notice to exercise a hypothecary right
  • motion for mandatory relinquishment or court order
  • a duly-served demand from the Régie du logement
  • final notice for overdue municipal and/or school taxes

For a public utility provided to the principal residence

notice of service interruption from the relevant public utility


if the recourse is directed only at the shareholder’s salary and/or automobile proof that all of the shareholder’s redeemable investments have been liquidated and used up to pay part of the recourse or that the investments cannot be redeemed.

if the recourse is directed at the principal residence, a public utility or the spouse’s automobile and/or salary proof that all redeemable family investments have been liquidated and used up to pay part of the recourse or that the family investments cannot be redeemed.

Eligible shares:

All shares held.

Subsequent share acquisition:

One year after purchase by the Fonds de solidarité FTQ.

Disbursement terms and conditions:

A single net payment equal to the amount necessary to repay the amount due or a substantial part thereof.

Cheque payable jointly to the shareholder and the creditor.

Do you have more questions?

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

Legal Notes
Please read the prospectus before buying Fonds de solidarité FTQ shares. Copies of the prospectus may be obtained on the Website, 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.