1. Introduction

1.1. About your Plan

The Régime de retraite du personnel des CPE et des garderies privées conventionnées du Québec (the Plan) was set up to contribute to your financial security by providing you with a pension payable for life from your retirement date. The Plan is administered by a pension committee, which acts as its trustee. The pension committee has delegated many of its tasks and responsibilities to TELUS Health, which was named appointed Plan administrator.

We are pleased to present this Members’ Reference Guide, which was prepared in collaboration with the appointed Plan administrator, to help you better understand the Plan's main provisions. It therefore includes information on Plan eligibility, membership, contributions, benefits, retirement, and the various life events that may have an impact on your Plan membership.

Questions and Answers sections have been included throughout this guide to complement the information provided. It also contains useful information capsules on various important Plan processes or aspects. The Plan administration section contains Plan administration information. To help you become familiar with the terms used in this guide, please refer to the Mini Dictionary, which contains all the definitions you may need.

Although the Plan’s objective is to provide you with a major source of retirement income, we suggest that you also plan for income from other sources. The appendix entitled Other sources of retirement income contains useful information on this topic.

Need additional information? Please go to the last page of the guide, which provides contact information for the Plan administrator, the appointed Plan administrator, and the pension committee.

Please take a few minutes to look through this reference guide as well as the other sections of the My Retirement portal (https://rrcpegq.hroffice.com). We also suggest that you share this information with your family. If questions remain after reading this document, do not hesitate to contact the Plan administrator.

Have a good read!

The pension committee

Back To Top

2. Your Plan at a glance

2.1. Main features of the Plan

The Régime de retraite du personnel des CPE et des garderies privées conventionnées du Québec came into force on April 1, 2003, following the enactment of An Act to facilitate the establishment of a pension plan for employees working in childcare services (Bill 127). Since this is a defined benefit plan, the pension payable under the Plan is calculated in accordance with a pre-established formula and not based on the sum of contributions credited to the member's account.

The following is a summary of the main features of the Plan:

Eligibility	Any person who receives a salary from an employer and has accumulated at least 550 paid hours, or recognized as such, in a single calendar year may become a Plan member, subject to certain conditions.
Membership	Mandatory for any employee under the age of 65 who has met the eligibility criteria.
Your contributions	6.6% since January 1, 2017.
Other contributions	Members may not make additional contributions.
Employer contributions	The employer contributes the rate recommended by the Plan actuary (which shall not be less than the member contribution rate). In addition, he or she is responsible for any required deficit amortization contributions.
Maximum contributory overtime hours	For years of credited service as of January 1, 2019, no contribution for overtime hours will be permitted if the total regular and admissible hours reaches or exceeds the 1,664 hour threshold. Contributions will only be permitted on overtime hours that bring the total hours worked to 1,664 hours, which grants a full year of service.
Interest on your contributions	The net rate of return obtained by the pension fund.
Pension	Payable for life and calculated as follows: 1.5% of average eligible earnings multiplied by your years of credited service. A different formula will be used to calculate average eligible earnings for credited service prior to and as of January 1, 2019. Please refer to Section 5.1 for an example of calculation and to Section 12 for eligible earnings and average eligible earnings definitions.
Pension for past service	If you were eligible for recognition of your past service, you will receive the pension shown on your personalized statement.
Normal retirement	From age 65.
Early retirement	Unreduced pension: from age 60. Reduced pension: from age 55.
Postponed retirement	When you reach age 65, you stop making Plan contributions and accumulating credited service. However, you must begin to draw your pension no later than December 1st of the year during which you reach age 71.
Pre-retirement early benefit	To be eligible for pre-retirement early benefit, you must be between 55 and 65 years of age, still be actively at work, and reach an agreement in this respect with your employer.
Payment of pension	The pension is paid in monthly instalments on the first day of each month. You may choose to receive your pension through direct deposit.
Indexation of pension after retirement	Your pension is not indexed.
Deferred pension indexation before retirement	Only the portion of the deferred pension for years of credited service prior to January 1, 2019 will be indexed until age 55, for Plan members who have ceased their active membership.
Stabilization fund	As of January 1, 2019, the creation of a stabilization fund will help to better manage risks and protect financial health of the Plan. Its funding will be divided in equal parts by employee and employer contributions. The stabilization fund contribution is included in your contributions of 6.6%.
Settlement of benefits in proportion to the degree of solvency	As of January 1, 2019, if you decide to transfer the value of your vested benefits outside the Plan following termination of participation, the transfer value, if higher than 5% of the Year’s Maximum Pensionable Earnings (YMPE), will be payable in proportion to the Plan’s solvency ratio.The solvency ratio used to calculate the transfer value will be the ratio determined in the most recent actuarial valuation or, if more recent, the latest notice regarding the Plan’s financial situation submitted to Retraite Québec.

Back To Top

3. Eligibility to the Plan

3.1. Joining the Plan

You must accumulate 550 paid hours, or recognized as such, in a single calendar year, working for one or more employers, to be eligible to join the Plan. Upon meeting this eligibility criteria, you will receive a letter from the Plan administrator notifying you of your eligibility date, which is the date on which your active membership will begin.

If you have not reached a total of 550 hours by December 31 of a given year, the number of hours is reset the following year and accumulation of the 550 hours starts over.

This membership is mandatory for as long as you work for an employer. If you are already a Plan member and you change employers or are hired by another employer, the deduction of your contributions begins on your first day of work at your new employment.

The following provisions govern Plan eligibility.

Eligibility Criteria
Examples
Julie is hired by an employer on October 5.
October : 130 hours November : 150 hours December : 130 hours January : 140 hours	Although Julie accumulated 550 hours as at January 31, she only accumulated 410 hours by the end of the calendar year, that is, by December 31. She therefore does not meet the eligibility criteria to join the Plan. The counter is reset on January 1 of the following year. She therefore accumulated 140 hours as at January 31.
Julie is hired by two employers on April 5.
April employer 1 : 100 hours April employer 2 : 80 hours May employer 1 : 90 hours May employer 2 : 100 hours June employer 1 : 90 hours June employer 2 : 90 hours	Julie accumulated 280 hours with employer 1 and 270 hours with employer 2 in a single calendar year, totalizing 550 hours. She therefore becomes eligible to join the Plan.
Julie is hired by employer 1 in September and changes to employer 2 in January.
September employer 1 : 140 hours October employer 1 : 130 hours November employer 1 : 150 hours December employer 1 : 130 hours January employer 2 : 140 hours	Julie accumulated 550 hours with employer 1 in a single calendar year. She therefore becomes eligible to join the Plan. She does not need to accumulate 550 hours with employer 2 before becoming eligible for membership. She therefore starts making contributions with employer 2 on her first day of work with employer 2 .

Back To Top

3.2. If you are under 18 years of age

As of January 1, 2021, membership is mandatory as soon as you meet the eligibility criteria, even if you are under the age of 18.

Back To Top

3.3. If you are over 18 years of age, but under 65

You are eligible for membership in the Plan whether you hold a full-time, part-time, permanent, or temporary position, as soon as you meet the eligibility criteria of 550 paid hours in a single calendar year.

Your membership is mandatory as of your eligibility date.

Back To Top

3.4. If you are 65 years of age or older

Employees who are hired past their 65th birthday are not eligible for membership in the Plan. If you joined the Plan before your 65th birthday, you will stop making plan contributions when you reach age 65.

Back To Top

4. Contributions

4.1. Plan funding

The current service cost of the Plan is shared equally between you and your employer. The contribution rate is reviewed periodically and may be adjusted upwards or downwards, based on the financial situation determined by the Plan’s actuarial valuation.

Back To Top

4.2. Your contributions

You contribute 6.6% of your eligible earnings since January 1, 2017. These contributions are withheld directly from your pay cheque and deductible from your taxable income. They are mandatory as of your eligibility date and include employee stabilization contributions.

You may not contribute more than the maximum contribution set annually by the Plan. This limit applies to your total income from all employers.

Contribution termination

You start making contributions upon membership and continue for as long as you work for an employer. When you reach age 65, you stop making contributions and accumulating credited service.

You may not be required to make Plan contributions during some types of temporary leave of absence. Please refer to the section Temporary leave of absence for additional information.

Interest on contributions

Your contributions accrue with interest at the pension fund’s rate of return. The interest is calculated on the market value of the assets, net of management and administration fees.

Back To Top

4.3. Employer contributions

The employer must make contributions based on the rate set in the Plan’s actuarial valuation report. However, this rate may not be less than the member contribution rate. The employer and member contribution rate, for current service and stabilization fund, is 6.6% of the members’ eligible earnings since January 1, 2017.

Employer contributions are subsidized by the ministère de la Famille (Ministère), which pays this annual subsidy directly into the pension fund.

There are no Ministère subsidies, however, for employer associations or groups: these employers must make their own contributions.

Back To Top

4.4. Tax repercussions of your Plan contributions

Your Plan contributions are tax deductible and subject to certain limits. More specifically, a pension adjustment (PA) is calculated to reflect the contributions made to the Plan during the year. This PA, which is printed on the T4 slip provided by your employer, reduces your Registered Retirement Savings Plan (RRSP) contribution room for the following year.

You will also find additional information on how much you can save, tax-free, for retirement, in the Other sources of retirement income appendix at the end of this guide.

Back To Top

4.5. Questions and answers about your contributions

May I make additional Plan contributions?
No. Additional voluntary contributions may not be made and amounts may not be transferred from another pension plan, RRSP, deferred profit-sharing plan (DPSP), or Locked-In Retirement Account (LIRA) into the Plan.

May I withdraw my contributions while still working for an employer?
No. These contributions are required to provide you with a retirement income later on. Take note that both employer and member contributions are used to replenish the pension fund from which your retirement pension will be withdrawn, calculated according to a pre-established formula. You may withdraw the value of the benefits you accumulated in the Plan upon termination of employment, retirement, or serious illness, subject to certain conditions. However, this value will not be equal to the sum of your contributions, but rather to the portion of the retirement pension you accumulated at the date of the event. For additional information, please refer to the Retirement and Termination of employment sections.

What if my contributions exceed the maximum contribution?
Should you make excess contributions during a given Plan year, the excess will be refunded to you and will bear interest at the pension fund’s net rate of return, calculated on the market value of the assets, net of management and administration fees.

This could happen, for instance, when you work for more than one employer. To check whether your total contribution amount exceeds the maximum contribution, add up your contributions made for the week or year, and compare the sum obtained with the applicable limits. Should you note that you have exceeded the allowable maximum, you can ask the appointed Plan administrator to authorize your employers to stop withholding or place a limit on contributions for the remainder of the year.

Please note that the maximum contribution for 2024 is $109.80 per week, or $5,709.40 per year.

What if contributions are withheld for overtime hours exceeding the 1,664 hour threshold?
Should you make contributions based on overtime hours in excess of the 1,664 hour threshold, the excess will be refunded to you annually by the Plan administrator and will bear interest at the pension fund’s net rate of return, calculated on the market value of the assets, net of management and administration fees.

This could happen, for instance, when your eligible hours have reached the 1,664 hour threshold and your employer has declared overtime hours for you and withheld the related contributions.

Back To Top

5. Retirement

5.1. Your pension under the Plan

Back To Top

5.2. Retirement scenarios

Here are four retirement scenarios, with their impact on the pension you will receive: normal retirement, early retirement, postponed retirement, and pre-retirement early benefit.

You must no longer be working for any employer to be eligible to receive your pension from the Plan.

Normal retirement

You may retire on the first day of the month following or coinciding with your 65th birthday and begin receiving your pension under the Plan.

Early retirement – With unreduced pension

You may take an early retirement as of the first day of the month following or coinciding with your 60th birthday. You will then be entitled to the full amount of your accrued pension.

If you are no longer working for an employer, you will benefit from asking the payment of your pension as of age 60.

Early retirement – With reduced pension

You may take an early retirement as of the first day of the month following or coinciding with your 55th birthday. Should you retire before age 60, however, your pension will be permanently reduced to account for the fact that it will be paid to you over a longer period than if you retired at 60. Please note that no pension is payable before age 55.

Postponed retirement

As of your 65th birthday, you no longer make contributions and accrue credited service under the Plan.

If you continue to work, your pension will increase since it will be paid to you over a shorter period than if your pension was paid as of the normal retirement age under the Plan. However, the payment of your pension must begin no later than December 1st of the year during which you reach age 71, even if you continue working after that date. If you are no longer working for an employer, you will benefit from asking the payment of your pension as of that time.

Time frames before receiving your pension

You are under no obligation to begin drawing your pension immediately when you stop working for your employer. You may delay the payment of your pension to a date of your choice. If, for example, you stop working at age 59, you may decide to wait until your 60th birthday to receive an unreduced pension. In any case, you cannot request the retroactive payment of your pension more than 3 months before the date on which the Plan administrator receives your request. It is therefore important to plan the timing of your request to the Plan administration. For example, you may receive a retroactive pension payment on July 1, as long as the Plan administrator receives your pension request no later than September 30.

Pre-retirement early benefit

The pre-retirement early benefit allows you to receive a lump-sum payment from the Plan to partially compensate for the reduction of income resulting from a reduction in your work time as you approach retirement. It is important to note that there is no obligation to claim this benefit if you choose to reduce your working hours. Hence, you may reduce your working schedule without anticipating part of your retirement pension.

To be eligible for this early benefit, you must be a member of the Plan between 55 and 65 years of age, still be actively working, and come to an agreement with your employer regarding the reduction of your working hours. You may then make the request to the Plan administrator by providing them with a letter stating your wish to benefit from an early benefit payment compensating for reduced working hours and a copy of the agreement between you and your employer, signed by both parties. You may submit a request annually.

It should be noted that:
- Each request is for a single payment and a request can be submitted annually if the above conditions are met, including the agreement with your employer.
- All lump-sum payments received will reduce the pension amount you will receive upon retirement.

Back To Top

5.3. Steps to follow for your retirement

Getting ready to retire?
A few steps to follow …

1. Once you have made your decision, notify your employer of your retirement date.
2. Contact TELUS Health Administration Team no more than 90 days before your retirement date, in order to request your retirement benefit statement. Please refer to the section Need additional information for contact information. Please note: your pension payment date may not precede by more than 3 months the date on which the Plan administrator receives your request for pension.
3. Thereafter, the Plan administrator will send a Retirement benefit statement within 10 days of your request. Please note: you must select only one form of pension payment. This is also the last opportunity for your spouse to waive, or not, the death benefits to which he or she is entitled during retirement.
4. You will need to provide, among other things, your option election form, a proof of age for you and your spouse, a sample cheque for the direct deposit of your pension and any other document requested in your retirement benefit statement.
5. In order to avoid the delay of the start of your pension payment, you must return all the required documents duly completed as soon as possible.

Please read the options statement carefully: the decision you make will have a permanent impact on your pension and the death benefits. You may want to speak with a financial planner to help you make the most suitable decision.

You may contact the Plan administrator at any time, who will be pleased to provide any assistance you may require.

Back To Top

5.4. Questions and answers about retirement

May I purchase past service benefits to increase my retirement income?
No. The Plan does not allow the purchase of past service.

Do I have to stop working to start receiving my retirement pension when I reach the age of 65?
No. You can start receiving your pension while continuing to work with your employer if you request it from the administrator. Note that you will have to pay employee contributions until the last day of the month during which you turn 65.

Once retired, what happens if I go back to work for a participating employer?
If at the time of retirement, the option of a lump-sum payment was offered to you and you opted for it instead of a pension, you would be able to join the Pension Plan again if you are under the age of 65 and you meet the eligibility criteria again before the age of 65.

If, however, you benefited from a retirement pension, your pension will continue to be paid to you while you are working. However, you will no longer make contributions nor accrue credited service. Therefore, your pension will not increase.

Will my pension reduce the government pension benefits to which I am entitled?
No. Your pension under the Plan has no bearing on the government pensions to which you may be entitled. For additional information, please refer to Appendix - Other sources of retirement income.

Will government pensions reduce my pension under the Plan once I receive them?

No. You can, however, choose to receive a temporary pension, which will increase your pension under the Plan until you reach age 65 and begin receiving government benefits. Your pension under the Plan will decrease after your 65th birthday.

When my retirement pension begins, how will I receive my Deposit notice (pay slips)?

You will receive your first Deposit notice by mail for the first payment of your pension and each time there is a change in your amount paid. Your Deposit notices will be available at all times on the My retirement website.

How will I receive my tax slips?

You will receive them by mail. They will also be available on the My retirement website.

If I opt for a postponed retirement (section 5.2), what adjustment will be applied to my pension?

If you are actively working when you turn 65 and you wish to continue working for a participating employer, you must choose between starting to receive your pension from the 1st day of the month following your 65th birthday or postponing this payment until a later date.
For example :
Suzanne has just turned 65 and has accumulated 15 years of credited service in the Plan. She has accrued a pension of $1,000 per month when she turned 65.
If she decides to continue working and not to immediately start receiving her pension, she will benefit from an upward adjustment due to postponement (i.e. payments will begin after age 65).
If she opts to start receiving her pension at age 67, her pension is estimated at $1,105.22 per month, an increase of $105.22 per month. This is equivalent to a total increase of 10.52%, or 5.26% per year of postponement (in this example, 2 years).
We remind you that this calculation is presented as an example only, since the interest rates prescribed by the Canadian Institute of Actuaries used to calculate the postponement vary from one month to the next. Historically, the annual increase provided by the postponement varies between 4% and 7%.
Note that if you stopped working before age 65, there is no advantage in postponing your retirement after age 65 since the amount will not be increased. You must work for a participating employer at age 65 and remain active in the plan after this date in order to see your benefit increased by the postponement.

If I terminated my employment, am I still entitled to the postponement of my pension?
No, the increase in pension provided for by the postponement only applies if you are actively working when you turn 65 and you continue working for an employer participating in the Plan.

Back To Top

5.5. During my retirement

As a retiree, you will receive a personalized annual statement.

For any change of a residential address, telephone number or email address, you must use the Changes to personal information tool made available to you through the Personal Zone of the My Retirement Website or contact the RRCPEGQ administration team. You are responsible for notifying the administrator of all changes in order to receive your membership statements and any relevant information pertaining to the Plan. You must also contact the administrator following the death of your spouse or your beneficiary.

Back To Top

6. Termination of employment

6.1. Twelve-month waiting period

If you are a Plan member and you stop working for any employer, a waiting period of up to 12 months begins. The purpose of this mandatory period is to allow you to maintain your active membership in the Plan between two employments. If, at the end of this waiting period, you have not worked again for an employer, your active membership ends and decisions must be made regarding your benefits under the Plan.

No credited service accrues during the waiting period, which can last up to 12 months. Since you maintain your active membership during this period, the value of your pension may not be transferred out of the Plan. However, the value of your pension continues to grow, with interest.

The waiting period ends before 12 months have elapsed if you request a pension, die, or resume employment for an employer. In this last case, you will begin to make contributions and accumulate credited service again on your first day back to work.

At the end of the 12-month waiting period, if you are still not working for an employer, your active membership ceases. If you return to work for an employer after your active membership ceases, you will have to meet the eligibility criteria again and accumulate 550 paid hours in a single calendar year before joining the Plan again.

If you work for more than one employer

If you work for more than one employer, the waiting period only begins once you no longer work for any of them.

Back To Top

6.2. Past the 12-month waiting period

If you are less than 55 years old at the end of the waiting period corresponding to your active membership termination, you will receive a termination package on which you could be offered two options for the amount accrued in the Plan: a deferred pension payable at retirement or a transfer of the value of your pension.

Deferred pension

You may choose to receive an unreduced pension under the Plan from age 60, or a reduced pension from age 55. To be eligible to receive a deferred pension, the value of your pension must be more than 5% of the YMPE ($3,425 in 2024).

Indexation of deferred pension

The pension accrued for service between April 1, 2003 and December 31, 2018 is indexed at 50% of the rate of inflation, as measured by the Consumer Price Index (CPI), from the end of your active membership in the Plan (usually 12 months after the end of your employment) until your 55th birthday. However, this annual indexation may not be less than 0%, nor greater than 2%. Please note that your pension for past service and your pension for service accrued as of January 1, 2019 are not indexed.

Transfer of the value of your pension

If you are less than 55 years of age, you may elect to transfer the value of your pension to one of the following retirement savings vehicles:

• locked-in retirement account (LIRA)
• life income fund (LIF)
• insurance policy
• your new employer’s retirement savings plan, if they agree to the transfer.

Please note that benefit transfer requests must comply with the deadlines specified in the following section.

Refund

If the value of your vested rights is low, that is, less than 20% of the YMPE ($13,700 in 2024) of the year during which your active membership ended, you will also be able to ask that this value be refunded to you or transferred to an RRSP, a Voluntary Retirement Savings Plan (VRSP), or another registered pension plan, if allowed under applicable tax legislation.

As of January 1, 2019, if you decide, as a Plan member, to transfer the value of your vested benefits following termination of participation, your transfer value will be payable in proportion to the Plan’s solvency ratio in effect as at the valuation date. For informational purposes, the most recent actuarial valuation, or latest notice regarding the Plan’s financial situation, submitted to Retraite Québec on December 31, 2022, indicated a solvency ratio of 93.4% for credited service prior to January 1, 2019, and of 84.7% for credited service after December 31, 2018.

However, if you do not have the option to maintain your vested benefits in the Plan, the value of benefits will be paid in full.

Furthermore, if the value of your vested rights is less than or equal to 5% of the YMPE of the year during which your active membership ended, this value is fully refundable in cash or fully transferrable to your RRSP, a VRSP, or another registered pension plan, if allowed under applicable tax legislation.

Back To Top

6.3. Steps to follow for termination of employment

You stop working?
A few steps to follow...

1. As soon as your employment ends, your employer must inform the Plan administrator of your termination date for each function you held in his establishment.
2. A waiting period of up to 12 months begins. If you work for more than one employer, the waiting period only begins once you have stopped working for the last of these employers.
3. At the end of the waiting period, the appointed Plan administrator will send (without your needing to request it but only if your employer informed the administrator about your termination date for every function you held), within 60 days, a document asking you to specify what should be done with your pension benefits.

Moving?
Don’t forget to notify the appointed Plan administrator so that you may be easily reached at the end of the waiting period. You can update your new home address in the Personal Zone area of the website, under the Changes to personal information section.

4. You will then have 90 days to reply, indicate your choice (deferred pension or transfer of the value of your pension) and return the required documents. If you do not reply, the deferred pension option will be applied by default.

However, you may request from now on, at any time up to the 90th day following the date that precedes your normal retirement date by 10 years, the transfer of the value of your vested benefits outside the Plan. Please note that the value of your benefits will be recalculated and may increase or decrease accordingly.

Back To Top

6.4. Questions and answers about termination of employment

What happens if I return to work for an employer DURING the waiting period?
The waiting period ends and you resume Plan contributions on your first day of work.

What happens if I return to work for an employer AFTER the waiting period?
Please refer to Returning to work for an employer section.

Must I wait for the waiting period to end before I may draw a pension?
No. You may request the payment of your pension as soon as you become eligible, i.e., as of age 55.  

Back To Top

7. Death

7.1. Death benefit under the Plan

The death benefit under the Plan is payable to your spouse, your designated beneficiary, or your estate. The amount of this benefit depends on whether your death occurs before or after retirement.

Back To Top

7.2. Death before retirement

Back To Top

7.3. Death during retirement

Back To Top

7.4. If you have a spouse when you retire

The death benefit amount paid to your spouse depends on whether your death occurs within the guarantee period, if any, or later (i.e., before or after all the guaranteed monthly payments have been made, if any).

The following table assumes that your spouse has not waived his or her right to 60% of your pension.

Death within the guarantee period

Death after the guarantee period (or if there is no guarantee period)

Your spouse will initially receive 100% of the pension you were receiving before you died, until all the guaranteed payments have been made. Thereafter, your spouse will receive a lifetime pension equal to 60% of the pension amount you were receiving before you died. Should your spouse die before the end of the guarantee period, the balance will be paid in a single lump-sum to your designated beneficiary or estate if there is no designated beneficiary.

Your spouse will receive a lifetime pension equal to 60% of the pension amount you were receiving before you died. The payments will stop when your spouse dies.

Back To Top

7.5. If you do not have a spouse when you retire (or if your spouse has waived the 60% joint and survivor pension)

The death benefit amount depends on whether your death occurs within the guarantee period, if any, or later (i.e., before or after all the guaranteed monthly payments have been made).

Death within the guarantee period	Death after the guarantee period (or if there is no guarantee period)
Your designated beneficiary, or estate if there is no designated beneficiary, will receive the value of the balance of the pension you were receiving before you died, until all the guaranteed payments have been made, including the payments already made at the time of death. The value of the balance is paid in a single lump-sum, actuarially equivalent to the residual payments.	No death benefit is payable.

 

Back To Top

7.6. Other forms of pension payments

Upon retirement, you may select a form of pension payment other than the one set out by the Plan. The amount of your pension will then be adjusted by actuarial equivalence. You may select:

1. a different guarantee period of either 5 or 15 years
2. one or more payments, if your life expectancy is less than two years as a result of a serious illness (medical certificate required).

Back To Top

7.7. Your beneficiary

Have you thought about your beneficiary?
A few minutes to think can make all the difference!

Designating one or several beneficiaries only takes a few minutes (filling out the form, that is!). Take the time to think things through and decide to whom your pension should be paid in the event of your death. The related form is available on this website, under the Forms section.

This could help avoid problems later and ensure the timely payment of your death benefit.

If you have a spouse, this person is the beneficiary of your death benefit, unless he or she waived this right.

If you do not have a spouse, the benefit is paid to your designated beneficiary or, if there is none, to your estate.

Do not forget to notify the appointed Plan administrator of any change in beneficiaries by using the correct form under the Forms section.

Please note that if you hold more than one membership in the Plan, your most recent beneficiary designation applies to each of your memberships, past or future, and voids all past designations, unless there is an irrevocable one.

Please refer to Section 12 of this document to get additional information about spouse and beneficiary designation.

Back To Top

7.8. Question and answer about death benefit

What if my spouse, when I die, is not the person to whom I was married when I retired?

If your first spouse had waived the death benefit (or if you did not have a spouse when you retired), no survivor’s pension (aside from any remaining guaranteed payments) will be paid.

If, however, your first spouse had not waived the death benefit, he or she generally loses his right to a pension when he or she stopped being considered your spouse. Your second spouse will not be entitled to a pension in any case.

In the case where your spousal union is dissolved during retirement, you may ask that your pension amount be adjusted accordingly.Back To Top

8. Relationship breakdown

8.1. Division of the amount accrued under the Plan

Unless you are exempt from the Quebec Civil Code’s provisions pertaining to family patrimony, the amount accrued under your Plan is considered part of the family patrimony. In case of divorce, separation, marriage annulment, or dissolution or annulment of a civil union, its value may therefore be divided between you and your former spouse in accordance with the Civil Code’s provisions and any court decision or partition. Its value may also be split with your ex-spouse in accordance with an agreement between the two of you in the event of cessation of the conjugal relationship. In such cases, the value of your pension will be reduced to take into account the amount paid to your former spouse.

You or your former spouse may send the appointed Plan administrator a written request to obtain, at no cost, a statement of the value of your pension. We suggest that you phone the Plan administrator for details, as certain documents must be provided and deadlines complied with. You can also refer to prescribed forms, available under the Forms section.

In the event of relationship breakdown, make sure that you keep the appointed Plan administrator apprised of all developments.

Back To Top

9. Absence from work

9.1. Temporary leave of absence

You may maintain your Plan membership and continue to make contributions during certain authorized leaves of absence. Please note, however, that some conditions apply as to the length of the absence. If you elect to continue to make contributions, you must do so for the entire duration of the leave of absence. Exceptionally, you may reach an agreement with your employer if you experience financial difficulties that prevent you from continuing to make contributions. In such a case, the suspension of payments is final: you may not resume your contributions later.

Back To Top

9.2. If your leave of absence is paid

If you are paid by your employer during your leave, your contributions continue to be withheld from your eligible earnings and the leave of absence is included in your years of credited service.

Back To Top

9.3. If your leave of absence is not paid

You may maintain your Plan membership during certain leaves of absence where you are not paid by your employer. You must, however, inevitably notify your employer of your intention to continue making contributions no later than the last day of the month following the month during which your leave began.

If you decide to continue making contributions, your employer will make matching contributions and your leave of absence will be added to your years of credited service.

To continue making contributions during your leave of absence, you must notify your employer by filling out the Contributions to the Pension Plan during unpaid leaves of absence form, available in the Forms section (in the personal zone of this site) or from your employer. You must complete and sign the form and provide it to your employer to confirm your decision.

Even if you do not wish to continue making contributions, your employer will require you to fill out this form to confirm your decision not to contribute.

The types of leaves for which you are allowed to maintain your Plan membership by making contributions as well as their maximum duration are summarized in section 9.5 Unpaid leaves of absence during which you may maintain your active membership.

Back To Top

9.4. Eligible earnings used

Eligible earnings refer to the salary you would have received, had you been actively at work during the leave of absence. Promotions to a higher grade and salary increases are taken into account during a leave of absence.

Moreover, the eligible earnings are based on your regular work schedule (not including overtime) when your leave of absence began.

If your work schedule was irregular before the leave of absence, your regular work schedule will be the equivalent of your average weekly hours of work in the last four months preceding the beginning of your leave, as reported by your employer to the appointed administrator.

Back To Top

9.5. Unpaid leaves of absence during which you may maintain your active membership

Types of unpaid leave	Contribution payment rules
Absence due to illness, an organ or tissue donation for transplant, an accident (other than an occupational injury) covered by the Labour Standards Act, or victim of domestic or sexual violence.	You can contribute up to 26 weeks in a 12-month period.  Afterwards, the payment of your contributions and those from the employer, as well as the accumulation of your credited service will cease.
Absence resulting from a criminal act covered by the Labour Standards Act.	You can contribute up to 104 weeks per period. Afterwards, the payment of your contributions and those from the employer, as well as the accumulation of your credited service will cease.
Absence following an occupational injury for which you are eligible for Commission des normes, de l’équité, de la santé et de la sécurité du travail (CNESST) benefits.	You and the employer can contribute during your disability until such time as the CNESST issues its decision regarding your reinstatement with your employer. If the CNESST declares that you cannot be reinstated with your employer, the CNESST will pay the employer portion as long as you continue to pay your share of contributions.
Preventive withdrawal of a pregnant or nursing member, as provided for by the Act Respecting Occupational Health and Safety.	You can contribute for the entire period of absence, without exceeding the maximum period of 12 months as specified in the Act Respecting Occupational Health and Safety.
Absence for family or parental reasons (such as maternity or paternity leaves) under the Labour Standards Act. (refer to section 9.6 for more information)	You can contribute for the entire period of absence, without exceeding the maximum period as specified in the Labour Standards Act, 18 weeks for maternity leave and 52 weeks for parental leave  For other absence, refer to the Labour Standards Act, to your employer, or consult the section 9.6.
Unpaid leave for union duties.	You can contribute for the entire period of absence.

Back To Top

9.6. Leave of absence for family or parental reasons

The following table summarizes the different leaves of absence authorized by the Act respecting Labour Standards and their maximum duration. Please refer to the law for more details.

LEAVE OF ABSENCE REASON	LABOUR STANDARDS
Marriage or common-law union	1 day with pay
Marriage or common-law union (immediate family: child, father, mother, brother, sister, or spouse's child)	1 day without pay
Birth (father and mother, except if already on maternity leave) Adoption of a child	Total of 5 days, including 2 days with pay (prerequisite of 60 days of continuous service, otherwise 2 days without pay) and 3 days without pay
End of pregnancy on or after the 20th week	Total of 5 days, including 2 days with pay (prerequisite of 60 days of continuous service, otherwise 2 days without pay) and 3 days without pay
Paternity leave (birth only)	Maximum of 5 weeks without pay ending no later than 78 weeks after the birth. Paternity leave may be suspended if the child is hospitalized.
Maternity leave (birth only)	Maximum of 18 continuous weeks or more, if the employer agrees, and minimum of 2 weeks if delivery is after the due date. The leave must be taken between the 16th week before delivery and the 20th week after delivery. Maternity leave may be suspended if the child is hospitalized
Parental leave (birth or adoption)	Maximum of 52 weeks without pay ending no later than 78 weeks after the event. Parental leave may be suspended if the child is hospitalized.
Risk of end of pregnancy or health risk for the mother or unborn child	For the duration prescribed in the medical certificate, without pay. The medical certificate must specify the condition of the mother or the child and the expected date of delivery. Deemed a maternity leave as of the 4th week prior to the due date
End of pregnancy before the beginning of the 20th week	Special maternity leave of a maximum period of 3 weeks, unpaid, unless a medical certificate attests that an extension is necessary.
End of pregnancy after the beginning of the 20th week	Special maternity leave of a maximum of 18 continuous weeks without pay, ending no later than 20 weeks after the week of end of pregnancy.
After delivery, if required for the health of the mother or child	Possible extension of maternity leave for the period indicated on the medical certificate if the state of health of the mother or the child so requires. Possible extension of paternity leave or parental leave if the state of health of the child so requires.
Custody, health, education of own child or spouse's child, or health condition of spouse or close relative1	10 days, without pay
Serious illness or serious accident of own child, spouse's child, spouse, or close relative1 (prerequisite of 3 months of continuous service)	16 weeks over a period of 12 months, without pay. When it comes to a minor child, the duration of the leave is at most 36 weeks, over a period of 12 months.
Serious, potentially fatal illness of a close relative1, other than the minor child, or a person for whom the member acts as a caregiver	27 weeks over a period of 12 months, without pay, if the condition is attested by a medical certificate.
Serious, potentially fatal illness of member's minor child (prerequisite of 3 months of continuous service)	The 12-week leave of absence may be extended, without pay, to 104 weeks, after the beginning of the leave of absence if the condition is attested by a medical certificate.
Disappearance of a member's minor child or death resulting from suicide of a member's child or spouse.	52 weeks without pay (if the child is found before the end of this period, the leave of absence will end on the 11th day that follows)
Serious bodily injury suffered by a member's minor child as a result of a criminal act, or death of the spouse or child of a member as a result of such an act.	104 weeks without pay, subject to certain limitations if the member’s spouse or adult child is involved in the criminal act.
Death or funeral (immediate family2)	1 paid day + 4 days without pay
Death or funeral (distant family3)	1 day without pay
Reservists ― Canadian forces operations	Maximum of 18 months for foreign operations (prerequisite of 12 months of continuous service). Maximum of 15 days to take part in annual training as a reservist. Other leaves may apply depending of the type of operations and related regulations adopted.

1. Close relative: father, mother, brother, sister, grandparent of the member's
2. Immediate family: spouse, own child, spouse's child, member's father, mother, brother and sister
3. Distant family: son-in-law, daughter-in-law, member's grandparents and grandchildren, spouse's father, mother, brother and sister
   

Back To Top

9.7. Other unpaid leaves of absence

During other types of temporary leaves of absence without pay, such as unpaid leaves, study leaves, sabbaticals, strikes and lockouts, you may not make plan contributions and you stop accumulating credited service.

Back To Top

9.8. To make contributions or not to make contributions?

The choice to continue making contributions during an unpaid leave of absence is yours. It provides you the opportunity to increase your retirement income because you will continue accumulating credited service, despite your absence from work.

Should you decide to contribute, you must fill out the Contributions to the Pension Plan during unpaid leaves of absence form and provide it to your employer. Various payment methods are available, as indicated on the form available from your employer.

Back To Top

9.9. Questions and answers about absence from work

Must I fill out a form for a temporary unpaid leave?
Yes. Whether you wish to continue making contributions or not during your leave of absence, you must notify your employer by filling out the Contributions to the Pension Plan during unpaid leaves of absence form.

The form is available in the Forms section (in the personal zone of this site) or from your employer.

Will I be able to catch up on these missed contributions once I return to work?
No type of pension buyback is allowed under the plan. The contributions must be made during the leave of absence.

Back To Top

10. Returning to work for an employer

10.1. Following a termination of employment

If you return to work for a participating employer after the 12-month waiting period following a termination of employment, you must meet the eligibility criteria again and accumulate 550 paid hours in a single calendar year before joining the Pension Plan again, regardless of your prior period of employment.

If you selected a deferred pension (or if this applies by default)

You retain your deferred pension and a new period of contributions and credited service begins as of your new eligibility date following your return to employment. The benefits related to the two active membership periods are treated separately. For example, your most recent salary will have no impact on the calculation of your pension for your first membership period. Please note, however, that the value of your vested pensions will be combined to evaluate whether or not your benefits are locked-in.

If you elected to transfer the value of your pension out of the Plan

Upon your return to work, contributions and credited service will accumulate as a new period of membership as soon as you reach the 550-hour eligibility criteria. The value of the pension benefits transferred out of the Plan can not be transferred back in.

Back To Top

10.2. Following retirement

Your pension continues to be paid to you as usual. However, you do not gain new membership into the Plan. Therefore, you will not make contributions nor accumulate additional credited service.

When your employment ends after age 55, you may request immediate payment of your pension without having to wait until the end of the 12-month waiting period. However, if you think you may want to work again for your former or a new employer, you should carefully consider the impact of your decision on your pension amount. If you request immediate payment of your pension, you will not be able to resume your Plan membership should you return to work. This decision is irrevocable.

If, on the other hand, you do not request immediate payment of your pension and are back to work for a participating employer, you will begin to accumulate credited service again upon your return to work, or upon reaching the 550-hour eligibility criteria, depending on whether or not your active membership has ceased. You will, however, have to wait until this new employment ends to request payment of your pension.

Back To Top

11. Plan administration

11.1. Plan administrator

The Plan is administered by a pension committee, which acts as Plan trustee. The pension committee manages the Plan and invests its assets with the assistance of various service providers. Its responsibilities include ensuring the growth of pension fund and keeping you informed of your rights under the Plan.

The pension committee delegated many of its day-to-day Plan administration tasks and duties to TELUS Health. Generally, whenever you need to contact the Plan administrator, you will get in touch with TELUS Health.

Back To Top

11.2. Pension committee make-up

The pension committee is made up of 14 voting members as follows:

• four members are appointed by the ministère de la Famille (Ministère)
• three members are appointed by the ministère de la Famille (Ministère) after consultation with the representative associations of all employers
• two members are appointed by the Fédération de la santé et des services sociaux (FSSS-CSN)
• one member is appointed by the Centrale des syndicats du Québec (CSQ)
• one member is appointed by the Association du personnel cadre des centres de la petite enfance du Québec
• one member may be appointed at the annual meeting by the group made up of active Plan members
• one member may be appointed at the annual meeting by the group made up of non-active Plan members and beneficiaries
• one member who is neither a party to the Plan nor a third party who is prohibited by the Supplemental Pension Plans Act from receiving a loan is appointed by the other pension committee members.

If the members or beneficiaries do not exercise their right to appoint a voting member at an annual meeting, the Fédération de la santé et des services sociaux (FSSS-CSN) and the Centrale des syndicats du Québec (CSQ) may agree to appoint a member to the pension committee until such time as the members or beneficiaries exercise their right.

At the annual meeting, the group made up of active Plan members and the group made up of non-active Plan members and beneficiaries may each appoint one (1) additional non-voting committee member.

A member's appointment must not exceed a period of three years.

Back To Top

11.3. Annual meeting

A general meeting, during which the pension committee and the appointed administrator report on the Plan's administration, is held each year. The notice of meeting will be enclosed with your personalized annual statement and sent no later than June 30 of each year.

Back To Top

11.4. Viewing documents

The following documents may be viewed either at the pension committee’s office or on the My Retirement portal:

• Plan text
• financial reports
• actuarial valuation reports

The following documents may also be viewed, with a written request, at the pension committee’s office:

• annual information statements filed with Retraite Québec
• the investment policy adopted by the pension committee
• delegation instruments issued by the pension committee
• correspondence between Retraite Québec and the pension committee during the previous five years (excluding correspondence regarding another worker, member, or beneficiary)

Back To Top

11.5. Date of coming into force and Plan year

The Plan came into force on April 1, 2003. Its fiscal year is from January 1 to December 31 of each subsequent year after 2003.

Back To Top

11.6. Undistrainability of rights

Plan contributions (past and future) and interest are exempt from seizure and non-assignable, as are the sums reimbursed by the Plan, the benefits payable under the Plan, and the sums payable to your former spouse following a partitioning or transfer of benefits provided for under the Plan or by law. This does not apply, however, to any share of the surplus assets allocated to members following a Plan termination.

Notwithstanding the foregoing, according to law, exemption from seizure only applies to half (50%) of the accrued benefits as regards the partition of benefits or child support payments.

Back To Top

11.7. Plan amendments

The following persons, organizations, or groups must agree on any proposed Plan amendment:

• the Minister of the ministère de la Famille (Ministère), after consulting the Association québécoise des centres de la petite enfance and the Association des garderies privées du Québec
• the Fédération de la santé et des services sociaux (FSSS-CSN) and the Centrale des syndicats du Québec (CSQ).

The amendments may not result in a reduction or cancellation of your vested rights, unless the applicable tax regulations so require. You will be informed of any proposed amendment before it is submitted for registration to Retraite Québec.

Back To Top

11.8. Should the Plan be in a surplus or deficit position

Since your Plan is a defined benefit plan, it is subject, at least every 3 years, to an actuarial valuation to determine whether the Plan shows a surplus or deficit position. The Plan text contains very specific rules to be followed in the event of a surplus or a deficit. These rules are summarized below. Please note that the following rules apply to the Plan on a going-concern basis and not in case of Plan termination.

Surplus
The use of the Members’ Account and the Employer’s Account is regulated by the Plan’s provisions. For additional information on this matter, please refer to the Plan text.

Deficit

The employer is responsible for making up any Plan deficits. In the event of a Plan deficit, the employer must make additional contributions, over and above the regular employer contributions, to amortize the deficit.

Back To Top

11.9. Investment of contributions

The pension committee has set up an investment policy specifically for your Pension Plan's fund.

Back To Top

11.10. Personalized statement

Each year, you will receive a statement showing the amount of contributions you have accumulated, your pension credits, and an estimate of your pension at ages 60 and 65. It will also inform you on the benefit payable under the Plan in the event of termination of employment or death, and on Plan amendments, if applicable. This statement will be sent no later than June 30 of each year and will be dated as at December 31 of the previous year.

Back To Top

11.11. Plan termination

The same entities that are entitled to amend the Plan may also terminate it. Should the Plan be terminated while in a surplus position, the surplus will be allocated between the members, retirees, beneficiaries, and employers, as provided for in the Plan text. For members who terminated their employment, only those whose rights have not been settled as at the Plan termination date and those whose employment ended less than three years before that date will be considered members for any allocation of the Plan surplus upon termination.

Back To Top

12. Mini Dictionary

12.1. Mini Dictionary

The Mini Dictionary contains all the definitions you need to become familiar with the terms used in this guide.

Active membership	Active membership begins on the date of enrolment in the Plan and usually ends on the earliest of the following: 12 months after the last job with an employer ends, at age 65, upon retirement, or death.
Average eligible earnings	The average eligible earnings of the five years where your salary was highest. Since the definition of eligible earnings differs prior to and as of January 1, 2019, two average eligible earnings will be calculated respectively.
Overtime hours	Any hour paid at a higher rate, whether it is beyond the regular schedule established by the employer or not.
Hours for determining Pension Plan eligibility	Any regular or overtime hour, as well as any hour that would have been worked if it were not for a temporary leave of absence (e.g., maternity leave, sick leave, vacation, statutory holidays, etc.).
Beneficiary (beneficiary designation)	This is the person whom you designate to receive the death benefit payable under the Plan when you die. Your beneficiary designation may be revocable (i.e., may be changed at any time) or irrevocable (i.e., may only be changed with the beneficiary's written consent). Beneficiary designations, including those in favor of a common-law spouse, are considered revocable by default, unless you make them irrevocable. However, the designation as beneficiary of the married or civil union spouse is considered, by default, irrevocable for as long as this person remains your legal spouse unless you tick the "revocable" box when you make the designation. If you hold more than one membership in the Plan, your most recent beneficiary designation applies to each of your memberships, past or future, and voids all past designations, unless there is an irrevocable one.
Estate	If there is no designated beneficiary, the death benefit is payable to your estate. Unlike the benefit payable to a designated beneficiary, the amounts payable to the estate are added to the deceased's patrimony. The payment of the death benefit to the estate also tends to take much longer, as the liquidator must take stock of all of the deceased's assets and liabilities before settling the estate.
Credited service	Period during which you make Plan contributions. A year of credited service is granted once you have made 1,664 hours of contributions. For managers and assistant managers, this number of admissible hours is limited to 37.5 per week.
Eligible earnings	The base salary received from an employer for regular hours worked in day care services. Eligible earnings may also, under certain conditions, include deferred pay leave compensation or sums received during a union leave, even when this pay is reimbursed to the employer by an accredited workers' association. Overtime salary, with the exception of the portion paid as the premium to the base hourly salary, for years of credited service prior to January 1, 2019.  For years of credited service as of January 1, 2019, overtime salary, with the exception of the portion paid as the premium to the base hourly salary, only if eligible hours do not exceed the 1,664 hour threshold. Contributions will only be permitted on overtime hours that bring the total hours worked to 1,664 hours, which grants a full year of service. All compensation must be paid during the period of continuous work, or no later than 30 days after the end of that period. Retroactive salary increase, only if you are working for a participating employer or if you have terminated your employment for 30 days or less. Excluded: Any basic hourly rate increase for overtime hours, lump-sum payments for unused vacation or sick days, all types of occasional compensation, bonuses, incentives, commissions or special payments for whatever reason, expense allocations, and reimbursements for expenses incurred by the member.
Maximum eligible earnings	Pensionable earnings under the Plan are limited to $1,663.58 per week or $86,506 per year in 2024. This maximum is raised annually based on the wage increases granted to unionized members of the Ministère, FSSS-CSN and the CSQ.
Employer	The employers to whom the Plan applies are those who hold a CPE or day care permit issued under the Act respecting child care centres and child care services and entered into an agreement with the Ministre de la Famille.
Associations and groups	Certain associations and groups also belong to the Plan. They will make employer contributions themselves. The list of these associations and groups is included in the Plan text, which is available on the Plan’s website.
Life Income Fund (LIF)	Account to which you may transfer amounts from a pension plan or a LIRA. These accounts have rules regarding the minimum and maximum withdrawals you may make per year to ensure that you have a steady retirement income.
Locked-in retirement account (LIRA)	Retirement savings vehicle similar to an RRSP, but subject to certain restrictions, notably regarding the beneficiary of the death benefit. The contents of a LIRA must be used to purchase an annuity or be transferred to a life income fund (LIF).
Maximum contribution	Since your eligible earnings are limited, so are your contributions, in accordance to Plan rules. This limit is raised each year on January 1. In 2024, the maximum weekly contribution is $109.80 ($5,709.40 per year).
On-going disability	Successive periods of disability for the same or related reasons occurring within no more than 31 days of each other.
Past service	Number of hours worked before April 1, 2003, for which an additional pension of up to a maximum of $765 per year may be granted.
Pension adjustment (PA)	The PA reflects the tax value of the benefits you accumulated during the year. It is calculated as prescribed by the Income Tax Act. The PA determines your RRSP contribution room for the following year and is printed on the T4 slip you receive from your employer each year.
Registered Retirement Savings Plan (RRSP)	An RRSP is a tax-sheltered retirement savings vehicle. Both your RRSP contributions and the accrued interest on these contributions are tax exempt until withdrawn from the Plan.
Serious illness	For Plan purposes, a serious illness is an illness which, according to a physician, will likely cause the member's death within two years.
Spouse	For Plan purposes, the spouse is the person who: is married to the member or has entered into a civil union with the member, has been living in a conjugal relationship with a member who is neither married nor in a civil union, for a period of not less than three years, whether this person is of the opposite or the same sex, or for a period of not less than one year if: at least one child has been born or is to be born of their union, they have jointly adopted at least one child while living together in a conjugal relationship or before, one of them has adopted at least one child who is the child of the other during such period. The quality of spouse is determined on the date the member's pension payment begins or, in the case of a death benefit before retirement, on the day preceding the member's death. A person who is legally separated from the member cannot be considered a spouse, regardless of the date of the decree of separation from bed and board.
Waiting period (termination of employment)	Twelve-month period beginning on the date of termination. If you work for more than one Plan employer, the waiting period begins when your employment ends with the last of these employers and ends at the end of the 12th month following the termination of employment.
Year’s Maximum Pensionable Earnings (YMPE)	An amount set each year in accordance with the provisions of the Quebec Pension Plan (QPP). It is the maximum salary for which contributions can be made to the QPP during the year. In 2024, the YMPE is $68,500.

Back To Top

13. Appendix - Other sources of retirement income

13.1. Retirement planning

Effective retirement planning depends on adequate knowledge of the major sources of retirement income. In addition to your pension under the Plan, personal savings and pensions from government plans are two important sources of income to consider.

Back To Top

13.2. Personal savings

You may save in a registered instrument such as an RRSP, or in a non-registered instrument such as a stock purchase plan or real estate. Since you may not save unlimited amounts tax-free, you must know what your available contribution margin is:

Available contribution margin calculation

	18% of the previous year’s earnings (maximum of $31,560 in 2024).
Less	The previous year’s pension adjustment (PA). Refer to the Tax repercussions of your Plan contributions sectionfor additional information.
Plus	All the RRSP contributions you could have made, but did not, since 1991.
Equals	Your contribution margin (printed each year on the Notice of Assessment sent by Canada Revenue Agency).

Registered Retirement Savings Plan (RRSP)

An RRSP is a vehicle which allows you to save, tax-free, for retirement. When you make RRSP contributions, you may deduct these savings from your taxable income. The interest earned on these savings also accumulates, tax-free, until you withdraw it from the plan.

RRSP amounts are taxable only when withdrawn. However, you may make tax-free RRSP withdrawals under the Home Buyers’ Plan or an authorized Education Plan.

Upon retirement, you may:

• use the balance of your RRSP account to purchase an annuity (lifetime or for a given period) from an insurance company, or
• transfer the balance of your RRSP to a registered retirement income fund (RRIF). A RRIF is an account where your savings earn interest tax-free. However, you are required to make minimum annual withdrawals from the RRIF. This withdrawal is taxable.

Back To Top

13.3. Government Plans

Québec Pension Plan (QPP) and Old Age Security (OAS) benefit

In addition to your Pension Plan payment, you may be eligible for government pension benefits. We invite you to learn more on these pension benefits by contacting the organizations below.

Québec Pension Plan

www.retraitequebec.gouv.qc.ca
1 800 463-5185

Old Age Security Program

www.canada.ca
1 800 277-9914

Back To Top

14. Need additional information?

14.1. How to contact us

Back To Top