January 25, 2010 Organization

Montréal – The RRSP season is a good time to put into practice savings resolutions adopted early in the year. The Autorité des marchés financiers (the "AMF") wishes to share some useful advice intended for consumers who plan to contribute to a registered retirement savings plan (RRSP) in the coming weeks.

"Contributing to an RRSP is one of the best ways to save for retirement, yet many consumers do so without giving this much thought," noted Anne-Marie Poitras, AMF Superintendent, Client Services and Compensation. "Consumers who want to invest in an RRSP would do well to consider financial planning first. To assist them with this matter, the AMF has prepared a checklist to help them make better decisions based on their current financial position and retirement goals," added Ms. Poitras.

Before investing in an RRSP … investigate!

Before making an RRSP investment, make sure you:

• Review your financial position.
• Determine your financial goals.
• Identify your risk tolerance and the types of investments that suit you.
• Avoid fraud risks.
• Verify that the person or firm you are dealing with is registered with the AMF.
• Ask for full written information on any investment being offered and read it carefully.

Useful documents

"The AMF can help consumers with their savings by giving them access to relevant and objective information presented in clear language," said Ms. Poitras. The AMF website features a section dedicated to Retirement. It includes a retirement quiz and puzzle to test a consumer's knowledge of retirement matters, and publications are available such as:

• the latest publication: Before investing in an RRSP, investigate!
• brochures and tools for retirement planning;
• a series of leaflets related to RRSPs, such as RRSP investments based on your age and Beware of RRSP fraud.

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

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Information:

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Sylvain Théberge: (514) 940-2176

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