Fonds de solidarité FTQ announces that at least $75 million will be available for subscription by One-Time or Pre-Authorized Bank Withdrawals Effective June 1, 2024

A random selection process will take place in May

HIGHLIGHTS

• Registration period: May 6 to 20, 2024
• Random selection will take place at the end of May 2024.
• A one-time code, valid for 10 days, will be sent to the selected individuals starting June 1, 2024.

MONTRÉAL, April 26, 2024 /CNW/ - The Fonds de solidarité FTQ announced today the terms of the random selection process that will enable more Quebecers to better prepare for retirement by re-establishing one-time bank withdrawals ("OBW") and accepting new pre-authorized bank withdrawal ("PBW") requests for share subscriptions. At least $75 million in shares may be issued through this random selection process.

Those wishing to subscribe by way of an OBW or a new PBW request will first need to register on the Fonds's website between May 6 and May 20, 2024. All Quebecers who are 18 years or older, whether they are new or existing Fonds shareholders, may participate up to an amount of $5,000 in the random selection process.

Starting June 1, the selected individuals will receive a one-time code. They will have 10 days to subscribe by way of an OBW, or by making a new PBW request for withdrawals between June 1, 2024, and May 31, 2025.

The Fonds may announce an additional random selection period before May 31, 2025.

"Saving for retirement remains a cornerstone of the Fonds de solidarité FTQ's mission. We are committed to helping Quebecers retire with dignity. The reinstatement of bank withdrawals will give more Quebecers the opportunity to save in order to avoid retirement insecurity," said Isabelle Renaud, Head of Retirement Savings Development and of the Economic Training Center at the Fonds.

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. For more information, visit fondsftq.com or our company page on LinkedIn.

Please read the prospectus before subscribing to shares of the Fonds de solidarité FTQ. 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.

The subscription 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 Québec level and 15% at the federal level, and are limited to $ 1,500 per fiscal year, which represents a $ 5,000 subscription 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.

SOURCE Fonds de solidarité FTQ

Press contact: Fonds de solidarité FTQ, Patrick McQuilken, Senior Advisor, Media Relations, 514 703-5587, [email protected]