Fonds de solidarité FTQ Offers for the First Time Its New Retirement Planning Workshop to Nord-du-Québec Workers

Chibougamau, April 18, 2023

Employees at M.A.S. Chibougamau were the first in the Nord-du-Québec to participate in a new Fonds de solidarité FTQ initiative to encourage Québec workers to better prepare for retirement. Developed by the Fonds’ Economic Training Centre, the workshop addresses personal finance topics such as budgeting, saving, personal balance sheet and retirement.  

"The Fonds de solidarité FTQ team explained personal finances in a way that everyone could understand. There was a discussion period, where we were able to get answers to our questions," said Tony Laflamme, sales representative at M.A.S. Chibougamau. 

"The Fonds' trainers presented several concepts on personal finance management in a way that was clear and easy to understand. Our entire team attended the workshop and I'm sure they all enjoyed it. This type of initiative goes a long way to breaking down myths and taboos about personal finance," said the company's general manager, Martin Cloutier. 

"Saving for retirement is a real issue that must be kept on the social and economic agenda in Québec. We need to keep this issue in the spotlight so that we don't fall further behind Ontario in terms of seniors' wealth by encouraging workers to put money aside today and by making it as easy as possible for them to save for retirement," said Serge Cadieux, Executive Vice-President, Business Development, Savings Market and Economic Training Centre, at the Fonds de solidarité FTQ.

According to recent data from Statistics Canada, in 2020, the average income of people aged 65 and over was almost $9,000 higher in Ontario than in Québec ($49,062 versus $40,331).1  

Also, 40% of retired people in Québec receive the Guaranteed Income Supplement (GIS), which is reserved for low-income retirees. Only Newfoundland and Labrador and New Brunswick have proportionally more GIS recipients than Québec. 2 We must therefore make it a priority to encourage more people to save for retirement. 

By 2027, the Fonds wants to encourage 100,000 new shareholders without a pension plan or earning less than $55,000 to save for a better retirement.  

Providing workers with economic training and helping them prepare for retirement are two components of the Fonds mission, along with driving Québec's economic development and helping create, maintain and preserve jobs.   

About the Fonds de solidarité FTQ 

The Fonds de solidarité FTQ invests to build a better society by channelling the savings of its 748,371 shareholders into development and risk capital investments to help Québec transition to a green economy, to a human-centred world of work, and to a healthier society. The Fonds offers businesses unsecured financing and strategic support. With $17.4 billion in net assets as at May 31, 2022, the Fonds has supported 3,620 partner companies and 296,927 jobs.  

Please read the prospectus before buying 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. 

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