Is there a cap on the contribution amount that can made by automatic bank withdrawals?
The limit varies depending on our annual fundraising goal.
In some years, our fundraising goals are met solely through contributions made by payroll deduction and pre-authorized automatic bank withdrawals that are already in place.
In other years, additional shares may be issued for a limited time. People can then subscribe for shares by setting up new bank withdrawals. This helps make saving accessible to more people.
In 2026, it will be possible to subscribe to Fonds shares through bank withdrawals during the lump-sum contribution period. The details will be announced before the period begins. They will specify the maximum contribution amount, if applicable.
Important points
- Tax credits of 30%[1] may be granted on contributions of up to $5,000 per year. They do not apply to contributions above that amount.
- Always make sure you have enough contribution room before contributing to your RRSP+ with the Fonds.
1
The subscription for 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 subscription for shares of the Fonds de solidarité FTQ. These shares can be held in an RRSP at the Fonds de solidarité FTQ and allow you to benefit from the tax credits, in addition to the RRSP deduction from your income. These shares can also be held in a non-RRSP account at the Fonds de solidarité FTQ. In this case, you can only claim the tax credits. Thus, by subscribing for shares of the Fonds de solidarité FTQ held in an RRSP at the Fonds de solidarité FTQ, you can, depending on your tax situation, benefit from more tax savings than the usual RRSP deduction. The Fonds de solidarité FTQ uses the term "RRSP+" to illustrate this enhanced tax benefit.
