Saving in a time of crisis
November. The month of remembrance, the month of prostate cancer, but also…the month of saving. With a pandemic that seems likely to stay with us through the winter, the impact on personal finances risks being harsh for many of us. Two campaigns from the Fonds de solidarité FTQ remind us that saving is more than merely putting money aside, it’s taking care of the future.
Prior to March of this year, most thought that there was a comfortable level of saving by people in Québec. But the pandemic changed everything and revealed people In Québec had been letting naivety guide their saving for a good while, living from paycheck to paycheck. Before the crisis, 53% of the population reported having no retirement plan, and the erosion of stock markets was the last straw for the financial security of many. This is why today, more than ever, saving isn’t a superfluous gesture, it’s a necessity over the short and long term.
Despite the context, the RRSP+ of the Fonds de solidarité FTQ still represents an indispensable savings lever that benefits both savers and enterprises that incorporate it into their payroll system.
The first campaign used short messages that featured savers who explained why the RRSP+ of the Fonds, with its 30% additional tax savings, is a profitable choice for the future…and for today. In fact, the RRSP+ doesn’t just pay off in 25 to 30 years, it pays off right now. And this money can be used for projects that really matter to us.
The second campaign, specifically addressed to enterprise managers, used testimonials in the form of video capsules entitled Prendre des décisions payantes (Making decisions that pay off) to show how setting up the RRSP+ in a payroll system can have a positive impact on employees, enterprises and society in general in Québec.