October - Investor Education MonthAMF and Question Retraite launch brochure on HBP and retirement

Organization

Montréal – The Autorité des marchés financiers (AMF) and Question Retraite announce a joint financial education initiative with the publication of a new brochure for consumers titled “Are you a first-time homebuyer? Benefit from the HBP while remaining on course for retirement!”

According to the Canadian Real Estate Association, Canadians repaid, on average, 60% of the amount they owed under the Home Buyers Plan (HBP) in 2006. Not repaying the HBP can have a significant impact on the funds available at retirement. The new brochure is intended primarily for future homeowners and for consumers who recently accessed the HBP.

The brochure discusses HBP rules and the impact of the HBP on retirement planning. It answers questions such as:

  • Should I pay back my HBP quickly or should I pay back my HBP in addition to contributing to an RRSP each year?
  • Is it more advantageous to use $10,000 directly as a down payment or place the money instead in an RRSP?
  • What happens if I don’t pay back my HBP?
  • What is the impact of an HBP on the funds available at retirement?

The brochure “Are you a first-time homebuyer? Benefit from the HBP while remaining on course for retirement!” can be downloaded from the AMF website, under Publications – Brochures and leaflets for consumers, or from the Question Retraite website. Copies can also be ordered free of charge by contacting the AMF Information Centre.

The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec's financial sector. Question Retraite is a private-public not-for-profit consortium of 20 partners that is dedicated to encouraging and organizing activities to educate and inform Quebeckers about the importance of financial security at retirement.

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Information:

Autorité des marchés financiers
Media only:
Sylvain Théberge: (514) 940-2176

Information Centre:
Québec City: 418-525-0337
Montréal: 514-395-0337
Toll-free: 1-877-525-0337

Question Retraite
Marie-Andrée Girard
Co-ordinator, Question Retraite
(418) 657-8738, extension 4404
http://www.questionretraite.com/ This link will open in a new window