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.

  • At this important stage of your life, you'll be able to rely on one or more of the following income sources:

    1. The federal government's Old Age Security (OAS) pension, starting at age 65
    2. Québec Pension Plan (QPP) benefits, if you contributed to the QPP pre-retirement
    3. Your employer-sponsored pension plan (pension plan, registered pension plan, employer plan, etc.), if applicable
    4. 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.

Download the retirement guide

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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 savings[1]: 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 $1,087.50[2]. This allows you to plan for retirement without sacrificing your current lifestyle.

Discover the RRSP+ with the FondsDiscover the RRSP+ with the Fonds

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.

Learn more about the RRSP with FlexiFondsLearn more about the RRSP with FlexiFonds

Celi avec FlexiFonds

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.

Learn more about the TFSA with FlexiFondsLearn more about the TFSA with FlexiFonds

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.

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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

Getting Started
What does my income need to be when I retire?
Most specialists agree that, if you want to maintain your lifestyle upon retirement, you’ll need roughly 70% of your gross annual work income
More Details : What does my income need to be when I retire?
Getting Started
Should you choose an RRSP or a TFSA?
The higher your tax rate is, the more it's to your advantage to contribute to your RRSP. However, if you plan on withdrawing amounts in the short term, consider contributing to your TFSA.
More Details : Should you choose an RRSP or a TFSA?
Getting Started
Is there an RRSP contribution limit in 2025?
Yes. This limit corresponds to your RRSP contribution room, which is indicated on your federal notice of assessment.
More Details : Is there an RRSP contribution limit in 2025?
Redemptions and withdrawals
Can I withdraw money from my RRSP+ before age 65?
You can benefit from the savings in your RRSP+ well before your 65th birthday, but only under certain conditions!
More Details : Can I withdraw money from my RRSP+ before age 65?
Getting Started
What other income will I receive when I retire?
Most specialists agree that, if you want to maintain your lifestyle upon retirement, you’ll need roughly 70% of your gross annual work income
More Details : What other income will I receive when I retire?
FlexiFonds
Can I transfer my savings to FlexiFonds from another financial institution?
Yes. You can transfer a TFSA, an RRSP or a RIFF to a FlexiFonds product by phone or directly online.
More Details : Can I transfer my savings to FlexiFonds from another financial institution?

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  • 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.

    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.

    2
    Example for the 2025 taxation year, based on a person with a $40,000 taxable annual income with a marginal tax rate of 26.5%, 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 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.