Thanks to the random selection, more Québecers will be able to contribute to their retirement savings while benefiting from the additional 30% in tax credits specific to labour-sponsored funds.[1]
There are three key phases to the random selection: registration, selection, and contribution.
1. Registration
The get the opportunity to contribute through the random selection, you must first fill out and submit the random selection registration form between May 6 and 20, 2024, before 11:59 pm.
You must provide:
- The email address you use or will use for your online account with the Fonds
- The last 3 digits of your social insurance number (SIN)
- Your total desired contribution amount (maximum of $5,000)
Important! Remember to confirm your identity via the email sent to you immediately after submitting the form. Once you complete this step, you will be officially registered.
2. Selection
A random selection will be held on June 1, 2024, from among all eligible savers who have submitted the registration form.
If you are selected on or after June 1, you will receive an email containing a unique code. This code will allow you to contribute an amount between $10 and the desired amount indicated on your random selection registration form (up to $5,000). It will be valid for 10 days only.
3. Contribution
If you are selected, you will be able to contribute to any of the Fonds' three savings vehicles: the RRSP+, the spousal RRSP+, and non-RRSP+.[1]
Contributions can even be split between more than one vehicle if needed.
- One-time withdrawal: For example, making a lump-sum payment of $5,000 on any date between June 1, 2024 and May 31, 2025.
- Automatic withdrawals: Spreading the total contribution over weekly, biweekly, or monthly withdrawals between June 1, 2024, and May 31, 2025.