FAQ

COVID-19

How can I stop and resume remittances?
Call the Fonds's Employer Services. When you're ready to resume payroll deduction remittances, call us back, then send us your remittance list and payments. We look forward to hearing back from you at that time.
I don't have access to my payroll system currently. Is there a deadline for submitting my remittances?
Since you don't have access to your payroll system, we ask that you submit your remittances promptly upon your return.
I had to lay off my employees temporarily. Do I need to notify you?
Yes, it' s important that you provide us with this information as soon as possible.
Is payroll deduction automatically cancelled when an employee is temporarily unemployed?
Payroll deduction is frozen during this period. Since no salary is paid, no further deductions are made. The deductions will resume automatically the next time you generate a payroll that includes that employee. The employee can cancel payroll deduction completely by logging into their online account on the Fonds's website.
Do you have any additional information to help me answer my employees' questions about redeeming their shares?
Yes, you can direct them to our FAQs, which specifically answer questions some savers may have.

Employers

What are the benefits of implementing an RRSP+ with the Fonds de solidarité FTQ rather than a VRSP?

The RRSP+ with the Fonds can be set up in less than 24 hours. By contrast, the VRSP can take up to three months to implement. Moreover, employees benefit from an additional 30% in tax savings on their contributions. Learn more about the advantages.

What is payroll deduction?

Payroll deduction is a systematic savings method that gives your employees the opportunity to contribute to their RRSP with the Fonds directly from their pay while benefiting from generous additional tax credits.

Payroll deduction can also allow them to get their RRSP deduction on each pay. The impact on their net pay will therefore be minimal!

To implement payroll deduction in your organization, please contact Employer Services.

Do employees who wish to opt out from this offer have to indicate their intention in writing?

Yes, the Commission des normes du travail recommends that you document pension plan opt-outs. File the responses in your records.

I already offer the payroll deduction RRSP+ with the Fonds. Do I still need to set up a VRSP?

No. If you already offer your employees the option of contributing to payroll deduction RRSP+ with the Fonds, your business need not set up a VRSP.

Only employers who do not already offer a registered retirement plan or the possibility of contributing to a registered retirement savings plan or a tax-free savings account (TFSA) through payroll deduction to all their employees are required to do so.

What is the deadline for communicating the information to my employees?

You must set up a solution and register your employees before the deadline outlined in the Voluntary Retirement Savings Plans (VRSP) Act. This date varies based on the number of people your business employs.

Deadlines for companies that employ:

  • 20 employees or more: December 31, 2016
  • 10 to 19 employees: December 31, 2017
  • 5 to 9 employees: by a date set by the government that may not be prior to January 1, 2018
  • Fewer than 5 employees: on a voluntary basis
  • What is VRSP?

    The objective of the VRSP bill is to encourage Québec workers to save for retirement. Employers with five or more employees will gradually have to comply with the bill and offer their employees a savings plan.

    Employers who already offer the RRSP with the Fonds with contributions through payroll deduction do not have to set up a VRSP.

    For more information about the VRSP, visit the Régie des rentes du Québec website.

    Are there certain conditions in the Voluntary Retirement Savings Plans (VRSP) Act that I must respect if I offer the payroll deduction RRSP+ with the Fonds instead of a VRSP?

    Yes. There are two(2) simple requirements:

  • Let your employees know you offer the payroll deduction RRSP+ with the Fonds as an alternative to the VRSP.
  • Register the employees who want to contribute to an RRSP+ with the Fonds.
  • Is the Fonds’ payroll deduction an alternative to the Voluntary Retirement Savings Plan (VRSP)?

    Yes. Businesses that already offer a labour-sponsored fund RRSP with contributions through payroll deduction, such as the Fonds de solidarité FTQ’s payroll deduction, will be exempted from implementing a VRSP.

    Learn more about the advantages -o-f a VRSP with payroll deduction and the simple 3-step process.-

    Employers Extranet

    Are there user fees?

    No, the Employers Extranet is free of charge.

    Who can use the Employers Extranet?

    Whoever is responsible for remittances, payments or payroll change notices. It can be employees within the company or a payroll provider.

    How do I register for the Extranet site?

    To register, contact Employer Services at 1 888 385-3723, Monday to Friday, 8:30 a.m. to 4:30 p.m.

    I can’t log in. What do I do?

    Please contact Employer Services at 1 888 385-3723, Monday to Friday, 8:30 a.m. to 4:30 p.m.

    I forgot my user ID. How can I reset it?

    To recover your user ID, use the “Forgotten user ID or password?” link on the login page. An email containing your user ID will be sent to you.

    I forgot my password. How do I reset it?

    To reset your password, click « Forgotten user ID or password?» on the login page. An email will be sent to you with a secure link to reset your password.

    We're here for you

    Find the answers to your questions

    Here, you'll find answers to frequently asked questions.

    Talk to one of our agents

    You can reach us at 1-888-385-3723, Monday to Friday, between 8:30 a.m. and 4:30 p.m.

    Log in to the employers' extranet

    You can manage all aspects of your company's payroll deduction plan online. A wide range of documents for you and your employees is also available on the employers' extranet.

    Legal notes
    1 The Fonds de solidarité FTQ's shareholders will receive 15% in tax credits from the Québec government and 15% from the federal government. They are capped at $1,500 per fiscal year, which represents a $5,000 purchase of shares of the Fonds de solidarité FTQ.
    Please read the prospectus before buying Fonds de solidarité FTQ shares. 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.
    Prospectus En ( 878 Kb )
    2 Example based on the 2020 taxation year for an individual with an annual taxable income of $31,500, at a marginal rate of 37.12%, who gets paid 26 times a year and receives tax savings immediately on each paycheque. The calculated amounts are estimates that can vary according to your tax situation.
    3 No fees will be charged by the Fonds de solidarité FTQ. However, your payroll provider may charge a fee.