Montréal – The RRSP season is upon us, and the Autorité des marchés financiers (AMF) wishes to give you some tips before you contribute to your Registered Retirement Savings Plan (RRSP), so that you can make thoughtful investment decisions.

  1. Always check with the AMF to find out whether the firm or representative you are dealing with is duly registered and authorized to sell financial products.

  2. Make sure you understand all the terms and conditions of the RRSP that is offered to you before signing the contract. Never invest your savings in a financial product that you don’t understand.

  3. Before contributing to an RRSP, carefully read all the documentation you are given.

  4. Keep your documents, including your contract, your statements of account, your investor profile, etc.

  5. Ask for a copy of the documents you sign. This way, you’ll have on hand all the investment details and conditions.

  6. If you invest in mutual funds, make sure you receive a prospectus. This document explains the type of investment you have chosen, including the risk factors.

  7. Ask questions about the financial institution issuing the RRSP contract, and ask for written references (such as a copy of its annual report) if you are not familiar with the institution.

  8. Instead of contributing at the last minute, consider an automatic RRSP contribution program, which will be like an automatic savings program.

  9. If you want to transfer funds from one financial institution to another, make your request in writing to the institutions concerned. It generally takes 10 business days to complete the transfer.

  10. Don’t put all your eggs in one basket! Make sure your investments are well diversified!

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

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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Media only:
Philippe Roy (514) 940-2176
Issuers, dealers, advisers and representatives: (877) 525-0337, choose option 9 for English, then 1 for industry
Consumers and investors: (877) 525-0337, choose option 9 for English, then 8 for consumers

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