Fonds de solidarité FTQ Offers New Retirement Planning Workshop to Capitale-Nationale Workers

Québec, February 19, 2024

Employees of Deuil-Jeunesse, a charitable organization in Charlesbourg, Québec, recently took part in a new Fonds de solidarité FTQ initiative to encourage Québec workers to better prepare for retirement. Developed by the Fonds' Centre de formation économique (CFE), the workshop addresses personal finance topics such as budgeting, saving, personal balance sheet, debt and retirement. Founded in 2008, Deuil-Jeunesse offers grief and bereavement services to children, teens and young adults.

"I really enjoyed the course on saving for retirement. The subject was presented in a way that was easy to understand and it kept us engaged. It makes you want to save," said Deuil-Jeunesse employee, Marie-Josée Boisvert.

"Since we don't offer a pension plan, it's essential that I give our employees the opportunity to learn more about retirement planning. The workshop offered by the Fonds' Centre de formation économique gave us a space in which to reflect on how we are going to prepare for that stage. What we learned was very relevant. The information was delivered in a fun way and the presenters were professional. Being on the verge of retirement myself, I found the workshop very useful," said Josée Masson, founder and CEO of Deuil-Jeunesse.

"Saving for retirement is a real issue that must be kept on the social and economic agenda in Québec. We need to keep it 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 Isabelle Renaud, President and CEO of the Fonds' Centre de formation économique and Chief of Retirement Savings Development.

According to an analysis of 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).

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. 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.

In Budget 2023, the Government of Québec announced that the Fonds' mission, as defined in its founding legislation, will be amended to better reflect the labour fund's economic training and retirement planning activities for workers.

About the Fonds de solidarité FTQ

The Fonds de solidarité FTQ is a source of pride in Québec, fulfilling its mission through a unique business model created 40 years ago. Since then, the Fonds has rallied Québec into action thanks to the retirement savings of 769,459 shareholders.

With net assets of $18.9 billion as at November 30, 2023, the Fonds supports more than 3,700 companies through venture and development capital investments based on the belief that impact is created as much by financial as social returns.

Please read the prospectus before buying shares of the Fonds de solidarité FTQ. Copies of the prospectus may be obtained online at 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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