I'm going back to school. How to request a withdrawal from my RRSP+?

If you're going back to school full time, you can submit a request to redeem your shares by contacting the Savings Service staff.

What is the Lifelong Learning Plan (LLP)?

It's a CRA program that lets you withdraw up to $20,000 from your RRSPs, tax-free.

When returning full time to post-secondary school for a minimum of three consecutive months in a designated educational institution, the Fonds makes it possible to redeem part of your shares.

The LLP is repaid over a 10-year period, at the rate of 1/10th of the amount per year.

For full details on how the Lifelong Learning Plan (LLP) works, please visit the LLP page on the Canada Revenue Agency website.

Returning to school without an LLP

It is also possible to withdraw amounts from your RRSP+ for a return to school, without benefiting from the LLP. This is the case, for example, for a return to high school, which is not eligible for the LLP.

Note that this withdrawal is not eligible for the LLP and that the usual tax treatment for RRSP withdrawals applies.

How do I make a request?

When you're ready to start the process, contact one of our Saving Services agents. They will be able to answer any questions you may have and send you the documentation you need.

To be eligible for a share buyback when you return to full-time studies, you must meet the following requirements

You, or their spouse, must have returned to full-time studies and be registered in a training program offered by a designated educational institution requiring at least three months of schooling

AND

must not have been a full-time student in such program at the time of their enrollment with the Fonds de solidarité FTQ

AND

cannot submit a request under the "Return to School" criterion if, during their studies, the you receive non-refundable grants or financial support from government programs or any other income, including employment income exceeding 75% of your employment income before their studies began

AND

must agree to make your repayments to the Fonds de solidarité FTQ, in order to benefit from the government continuing education assistance programs.

In addition to completing the form, you must provide proof of your return to school:

If you or your spouse has already begun studying:

The Fonds de solidarité FTQ form, which includes the "Declaration by Educational Institution."

If you or your spouse has not yet begun studying:

The Fonds de solidarité FTQ form and confirmation from the designated educational institution of registration for full-time studies, the program start date and its duration.

In addition to these documents, in all cases you will need to provide the following proof:

A copy of the tuition fee statement, including proof that 50% of the fees or a minimum of $500 was paid.

And finally, specifically if you are applying for an LLP withdrawal:

Provide the duly completed and signed Canada Revenue Agency form in order to avoid the deductions at source that would normally apply.

Eligible shares:

All shares held for at least two years. Shares purchased after returning to school cannot be redeemed under this criterion.

Subsequent share acquisition:

At any time.

Disbursement terms and conditions:

A single payment equal to the value of the eligible shares, up to a maximum of $10,000 per calendar year for a return to studies of less than six months

OR

a maximum of two instalments equal to the value of the eligible shares, up to a maximum of $20,000 for a single return to studies of six months or more.

Other relevant information

  • In order to protect your personal information, the best way to send your completed documents and forms is by using the Upload Documents feature in your online account.
  • It is still possible to send your completed documents and forms by e-mail or post.
  • The Fonds form must be printed out, completed by hand, signed, and scanned. Thus, a printer is required for this step.
  • The documents can be scanned or photographed, using your smartphone for example. The information must be easily readable by our team, by presenting the document in its entirety and in good resolution.

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 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 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.