Simple to implement and easy to manage, the RRSP+ via payroll deduction is a winning solution for both employers and their employees.

According to Retraite Québec, an average of one in two workers does not have access to a retirement savings plan through work. As income from public pension programs is generally not enough for retirees to maintain their standard of living and meet their new retirement needs, company group plans make all the difference.

Retirement is a major concern for many workers. If you're an employer, offering a savings plan by payroll deduction can help you stand apart from the competition and attract talent in situations of labour shortage. If you have the means to offer your employees the Fonds de solidarité FTQ RRSP+ payroll deduction solution, it can also be a way to offer staff bonuses! Read on to discover some of the many advantages of the RRSP+ via payroll deduction.

1. It's a saving solution that gives more to your employees

By setting up an RRSP+ via payroll deduction, you can help your employees save for retirement, buy a house thanks to the Home Buyers' Plan (HBP), or finance their studies thanks to the Lifelong Learning Plan (LLP). It's a great way to support them in the realization of their biggest life projects. The RRSP+ is especially advantageous for your employees, as a $1,000 contribution will generally cost them only $425, or $8.17 per week, for an annual taxable income of $40,000.* With its automatic payroll deduction and additional 30 percent tax credit,** the RRSP+ lets you give your employees more. Employees can choose the amount of their deduction and change or interrupt their contributions at any time.

2. It's a good alternative to a voluntary retirement savings plan (VRSP)

The Voluntary Retirement Savings Plan Act states that a company with 10 or more employees has to provide its employees with some means of saving for retirement. By opting for the RRSP+ via payroll deduction, you can avoid the management fees and lengthy setup process that come with a VRSP.

3. It's simple and quick to set up

The RRSP+ via payroll deduction can be set up in just one to two business days. You don't need to sign a contract or pay any management fees. The solution works with your payroll system and can easily be administered online. Employers receive personalized assistance as well as dedicated corporate client support. A Fonds agent will be happy to visit your offices to present the Fonds de solidarité FTQ RRSP+ and answer any questions your employees may have.

4. It's easy to manage

The Fonds de solidarité FTQ RRSP+ via payroll deduction is administered through the employers extranet, a secure site that can be accessed 24/7. Features:

• Quick and easy online remittance management
• Training guides and videos
• Option to order promotional material to better equip your employees
• Technical support

5. It helps build employee loyalty

As an employer, you are not required to contribute to your employees' RRSP+ via payroll deduction. Keep in mind, however, that employer contributions are not included in the company's payroll and are therefore not subject to the associated payroll taxes. This means that contributing to your employees' retirement savings could be a cost-effective way to pay bonuses. What's more, it gives you a valuable competitive advantage in your employee retention strategy.

6. It contributes to Quebec's economic growth

The Fonds de solidarité FTQ has been helping the Quebec economy prosper for more than 35 years. With footholds throughout the province, it brings together the RRSP contributions of thousands of investors to boost business growth and contribute to wealth creation for all Quebecers. Today, more than 10,000 companies in Quebec are enjoying the benefits of the RRSP+ via payroll deduction. When you choose this retirement savings solution for your employees, you're also doing the following:

• Maintaining, creating, and safeguarding over 215,000 jobs in Quebec****
• Investing in our local economy and in the Fonds's 3,126 partner companies.****

The RRSP+ via payroll deduction is beneficial not only for you and your employees, but also for our society. Enroll now! It takes only a few minutes.

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