2006 RRSP season: Be prudent!


Montréal – With the Registered Retirement Savings Plan season in full swing, the Autorité des marchés financiers (AMF) urges you to be prudent.

During this period, you may be tempted by some seemingly attractive offers in your local newspaper, but watch out for swindlers who are after your money. Here are a few things you should know before investing:

  • An RRSP is not an investment; it’s a tax shelter. However, you must choose the investments held in your RRSP.
  • To choose these investments, you must take into account the risk you are prepared to assume, your investment objectives and your investment horizon.
  • Before accepting any investments, be sure to read and understand the related documentation. Never make an impulsive investment decision. Take the time to think things over.
  • Never sign documents that you have not read or understood.
  • If you are thinking of investing in securities whose value may fluctuate substantially over time, assess the risks of losing all or part of your investment and the impact this would have on you.

Moreover, if someone asks you to withdraw money from your RRSP or other investment vehicles to invest in a high-return, non-taxable investment, make sure the person provides you with written and signed documents. The person may be trying to defraud you.

Whenever someone urges you to cash or transfer all or part of your RRSP funds, be very careful. Such action can have major tax consequences. Ask for a second opinion.

For any questions, please contact the AMF consumer information centre:

Québec City: (418) 525-0311
Montréal: (514) 395-0311
Toll-free: 1 866 526-0311
E-mail: [email protected]

Visit the AMF website to enter our contest. By completing the form, you will be eligible for a draw for one of two prizes of $500. The contest rules are available on the website.

The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec’s financial sector.

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Journalists only:
Philippe Roy (514) 940-2176
Issuers, dealers, advisers and representatives: (877) 525-0337, dial 9 for English, then dial 1 for industry
Investors: (877) 525-0337, dial 9 for English,then dial 2 for consumers

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