Frequently Asked Questions
What is the impact of COVID-19 on my retirement savings?
It is clear that the financial markets are reacting strongly to the situation and that Bâtirente funds are also being affected by the short-term market fluctuations.
Our investment experts are therefore continuing to closely monitor the situation and observe the behaviour of the range of funds in our investment line-up. These experts ensure that all our funds perform well in these turbulent times and protect your savings as effectively as possible.
I've recently lost money. Should I make changes to my investment instructions?
In times of volatility, the best approach is to take a long-term view:
- Maintain a diversified portfolio. This will help to limit losses during market turmoil and allow you to benefit when the markets rally.
- Make sure that the composition of your portfolio matches your risk tolerance and investment horizon.
- Stay the course on your savings goals and on your plan to achieve them.
This will help to reduce your worries about periods of market turbulence.
What is Bâtirente doing to preserve my savings?
Our investment team follows market developments on an ongoing basis to analyze the impact of sharp drops in stock prices on the composition and performance of our funds. This team also has regular discussions with our investment managers to make sure that appropriate actions are taken. Our Investment and Extrafinancial Risks Management Committee continues to meet regularly to assess the situation and ensure the resilience of our funds in this highly volatile market.
Will the payments from my RRIF/LIF continue to be made on schedule?
Yes, the payment schedule is not affected.
If I quit my job and am no longer a member of the CSN, can I still be a member of Bâtirente?
Yes, it’s your vested right.
If I am no longer a member of the CSN, can I continue contributing to my Bâtirente account?
Yes, you can continue contributing to your Bâtirente account for as long as you wish.
Are my contributions to my Bâtirente account tax deductible?
Yes. You will indeed be receiving an official receipt for the contributions you made to your group registered retirement savings plan (RRSP). For your simplified retirement plan (SRP), the information regarding the contributions you made will appear on your T4 and RL-1 slips.
When will I be receiving my official receipts for my registered retirement savings plan (RRSP) contributions?
You will receive your receipt for the contributions you made over the first sixty days of the year by mid-March of the same year. Your receipt for the contributions you made over the rest of the year will arrive in mid-January of the following year.
Am I going to get any follow-up on my portfolio?
Yes. You will receive four quarterly statements per year.
How can I get the forms I need to make changes?
Just contact your Bâtirente group union representative or the Bâtirente Member Services Centre at 1 800-463-6984 ext. 2.
When I retire, will I be able to receive pension benefits from Bâtirente?
Definitely, we provide the required pension benefit plans.
Consolidating assets with Bâtirente?
Is it always advantageous to consolidate my assets with Bâtirente?
In the vast majority of cases, yes. Fees paid with Bâtirente are mostly lower than those offered in financial institutions.
How can I learn about the fees related to my Bâtirente plan?
Your financial statement indicates all fees paid into your account, under Investments available in your plan. These are expressed as a percentage (%).
I want to transfer my accounts to Bâtirente. How should I do it?
Just fill out a transfer form. The Member Services Centre can support you in this process. It’s possible to reach the centre at 1 800-463-6984 from 8 a.m. to 8 p.m. Note that if you have not already joined Bâtirente, you must start by doing so.
I am a member of Bâtirente, but not my spouse. Can he/she become a member?
Yes. The spouse of a member is automatically eligible to participate in Bâtirente and enjoy the same advantageous costs as his group.
I have consolidated my RRSP assets at Bâtirente. Should I do the same thing with my TFSA?
Yes. The Bâtirente fees are the same for all types of plans in the same group. An investment in Bâtirente TFSA therefore benefits from the same cost savings as in the RRSP or another plan.
My financial institution charges me a fee to transfer my assets. Does Bâtirente reimburse these expenses?
No. Bâtirente’s expense policy does not provide for the reimbursement of these expenses. However, a simple calculation shows that the savings achieved through the reduced fee rate fully offset the costs associated with the transfer. Often even in a few months.
What is On Target Retirement?
On Target Retirement is a tool for tracking your retirement goals. By taking into account your accumulated savings, your investment habits and your investor profile, it allows you to simply project your income into retirement.
I am a CSN member, but my union does not participate in Bâtirente. Can I still transfer my assets to Bâtirente?
Yes. Any CSN union member, spouse and immediate family are eligible to participate in the Bâtirente pension system.
Is there not an increased risk of consolidating all my assets with Bâtirente?
No. Bâtirente does business with more than 10 investment managers. By investing in Bâtirente, members benefit from well-diversified, well-performing investments managed by a team of investment professionals. Consolidation does not expose the member to any additional financial risk.
I have another question. Who do I contact?
Our website batirente.com is a complete source of information about our retirement system. You can also reach the Member Services Center at 1 800-463-6984 from 8 a.m. to 8 p.m.