What is payroll deduction?

Payroll deduction is a way for your employees to save automatically by having contributions to their RRSP+ at the Fonds deducted right from their pay.

They benefit directly from their RRSP deduction and receive additional tax savings¹ on each paycheque. That means their net salary is only marginally affected by their contributions to the RRSP+.

If you'd like to implement payroll deduction in your company, call 1-888-385-3723 to speak with one of our Employer Services agents (Monday to Friday, 8:30 a.m. to 4:30 p.m.) or complete our employeur enrollment form.

Legal Notes
The acquisition of 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 purchase of shares of the Fonds de solidarité FTQ. On March 1, 2024, The Government of Québec announced in Information Bulletin 2024-3 that tax legislation would be amended to postpone by three years the rule providing that the tax credit would be available only to individuals whose taxable income for a given taxation year was below the highest tax rate. Please note that this postponement may be subject to legislative changes.