Plan your retirement with personal savings
The RRSP and TFSA accounts allow you to prepare for a retirement that meets your needs.
Saving for retirement is important. Although it may seem like a long way off, the earlier you start planning for retirement, the easier it will be to reach your financial goals. The RRSP may play the most vital role in your retirement savings plan, but the TFSA can be an excellent ally as well.
Planning your retirement is easier than you think.
Here are a few steps to help you get started.
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At this important stage of your life, you'll be able to rely on one or more of the following income sources:
- The federal government's Old Age Security (OAS) pension, starting at age 65
- Québec Pension Plan (QPP) benefits, if you contributed to the QPP pre-retirement
- Your employer-sponsored pension plan (pension plan, registered pension plan, employer plan, etc.), if applicable
- Your personal savings
Learn more about your retirement income.
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The ideal time to retire depends on your personal plans, your situation, your health, and your available income. By identifying the age at which you would like to retire, along with how much money you will need at that time, you'll be on your way to planning your savings.
Before age 60
You will need to rely solely on your personal savings or pension plan (pension plan, registered pension plan, employer plan, etc.), if you have one.
As of age 60
You will be eligible to receive a retirement pension from the Québec Pension Plan (QPP).
As of age 65
You will have access to all public sources of retirement income: the Québec Pension Plan (QPP), Old Age Security (OAS), and the Guaranteed Income Supplement (GIS), if you are eligible to receive them.
Learn more about the best time to retire.
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A number of factors need to be considered. First, what's your current income, pre-retirement? Do you plan to own or rent your home after you retire? For how many years? What projects are you hoping to carry out? Because every retirement plan is different, there's no magic number.
That said, you should aim to have 50% to 70% of your gross annual employment income once you retire.
You can estimate your retirement savings needs with the Québec government's SimulR tool, and you can use our budget tool to plan your retirement.
Retirement Guide: Picture your perfect retirement and plan for it!
When it comes to planning your retirement, it can be helpful to identify how you plan to spend your time after you stop working. Our Retirement Guide features questions to inform your thought process, help you understand yourself better, and figure out your interests and what you're capable of so that you can adequately plan your retirement.
The RRSP as a retirement savings tool
As the name suggests, the Registered Retirement Savings Plan (RRSP) is the ideal savings vehicle for planning your retirement savings. It allows you to save while deferring the taxes you will have to pay. Since your income is likely to decrease after you retire, you will have less tax to pay when you withdraw funds from your RRSP.
The RRSP+ with the Fonds: Make the most of your retirement
In addition to the usual RRSP deductions, the RRSP+ with the Fonds gives you an additional 30% in tax savings1: for the same amount invested, you'll be able to save at a lower cost. For example, saving $2,500 in an RRSP+ account would only cost you $1,062.502. This allows you to plan for retirement without sacrificing your current lifestyle.
The RRSP with FlexiFonds: For a retirement plan that meets your needs
By choosing the RRSP with FlexiFonds, you'll have access to three mutual funds tailored to various risk profiles and savings plans. What's more, investing with FlexiFonds is a great way to keep your savings local.
The TFSA with FlexiFonds: The perfect complement to your retirement savings
Since the TFSA allows you to generate tax-free earnings, putting your savings to work in this type of account for as long as possible can really pay off. The TFSA can also be interesting for retirement savings, because it allows you to optimize your tax situation whenever you decide to withdraw your money. In addition, choosing FlexiFonds means investing in products made up of assets that are 70% linked to the local economy.
Calculate the future value of your investments
Specify the amount you'd like to contribute each year and evaluate its effect on the value of your portfolio over time. This can help you plan your personal savings for retirement.
Projected value of my investment*
Notes
*In light of its mission and investment strategies, the Fonds de solidarité FTQ anticipates an average net annual return of 3.5% to 4% for the Fonds' Class A shares over the long term. This return does not take into account the tax credits granted to shareholders when they purchase Fonds de solidarité FTQ shares and is subject to volatility on a semi-annual and annual basis. The rate of return is solely used to illustrate the effects of the compound growth rate; it is not intended to reflect the future value of Fonds de solidarité FTQ shares.
Most frequently asked questions

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1
The Fonds de solidarité FTQ's shareholders will receive 15% in tax credits from the Québec government and 15% from the federal government. They are capped at $1,500 per fiscal year, which represents a $5,000 purchase of shares of the Fonds de solidarité FTQ.
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 shares of the Fonds de solidarité FTQ are not guaranteed, their value changes and past performance may not be repeated.
Prospectus_En2Example for the 2022 taxation year, based on a person with a $40.000 taxable annual income with a marginal tax rate of 27.50%, receiving 52 paychecks per year and benefits from a tax refund on each paycheck. These amounts are estimates that could vary depending on your taxation status.Information
All the information and data provided on this website are for information purposes only; they are not intended to provide advice or recommendations of a financial, legal, accounting or tax nature with respect to investments. Although they are deemed reliable, no representation or warranty, express or implied, is made as to the accuracy, quality or completeness of this information and data. The opinions expressed should not be construed as a solicitation or offer to purchase or sell the units referred to herein and should not be viewed as a recommendation. We recommend you consult your advisor.FlexiFonds de solidarité FTQ Inc.
The units of the FlexiFonds funds are distributed solely in Québec by FlexiFonds de solidarité FTQ inc., a mutual fund dealer wholly owned by the Fonds de solidarité FTQ. FlexiFonds de solidarité FTQ inc. does not distribute the units of any other mutual funds. Management fees and other expenses may be associated with mutual fund investments. Please consult your advisor and read the prospectus and the fund facts documents before making an investment. The FlexiFonds funds are not guaranteed, their values change frequently, and past performance may not be repeated.Trademarks
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