Plan your retirement with personal savings
The RRSP and TFSA accounts allow you to prepare for a retirement that meets your needs.
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.
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.
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.
A good way to prepare for retirement is to complete your retirement income plan, a free tool on our website!
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+ with the Fonds: Make the most of your retirement
The additional 30% in tax savings[1] offered by subscribing to Fonds shares give the RRSP+ a specific advantage: 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 $1,107.50[2]. This allows you to plan for retirement without sacrificing your current lifestyle.
The RRSP with FlexiFonds products: 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 products: 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 products means investing in products made up of assets that are 70% linked to the local economy.
Projected value of my investment*
Notes
*In this hypothetical projection, the Fonds de solidarité FTQ uses an average annual return of 4.5%, which is a reasonable rate of return. The rate of return used only serves to illustrate the effects of the compound growth rate and is not intended to reflect future values of Fonds de solidarité FTQ shares.
Most frequently asked questions
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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.
Please read the prospectus before subscribing for shares of the Fonds de solidarité FTQ. 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.
Information
All the information and data provided 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 an offer for the subscription or sale of shares of the Fonds de solidarité FTQ or the units referred to herein and should not be viewed as a recommendation. We suggest you consult your legal 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 units of the FlexiFonds funds are not covered by the Canada Deposit Insurance Corporation nor any other government deposit insurer. The FlexiFonds funds are not guaranteed, their values change frequently, and past performance may not be repeated.
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FlexiFonds, FlexiFonds Conservative, FlexiFonds Balanced and FlexiFonds Growth and the other trademarks displayed on this site are registered trademarks of the Fonds de solidarité FTQ. Other companies' trademarks are used with permission or under license. All rights reserved. Trademark references on this site should not be construed as an implied authorization to use such trademarks.
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The website is the property of Fonds de solidarité FTQ. By using the website, you agree to the following terms of use. You acknowledge and agree that the Fonds de solidarité FTQ may restrict, suspend or revoke your access to or use of all or part of the site, including links to third party sites, at any time, with or without cause, in its absolute discretion, without notice or liability. The Fonds de solidarité FTQ does not guarantee that this site will be available and meet your requirements or that access to this site will be uninterrupted. Availability downtime may occur at any time, without notice, including downtime required for maintenance or technical reasons.
