[et_pb_section fb_built=”1″ disabled_on=”off|off|off” _builder_version=”3.19.3″ custom_padding=”||0px|” global_module=”1327″ global_colors_info=”{}”][et_pb_row _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” custom_padding=”||0px|” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_post_title meta=”off” featured_image=”off” disabled_on=”off|off|off” _builder_version=”4.16″ global_colors_info=”{}”][\/et_pb_post_title][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.16″ global_colors_info=”{}”][et_pb_row _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.27.5″ hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n
The core of B\u00e2tirente\u2019s mission is to set up a retirement system that meets the needs of unionized men and women workers and to convince a maximum number of labour unions to join it, so as to maintain costs at their lowest level. As of now, over 300 labour unions and their 30,000 members have joined B\u00e2tirente. The growth of the assets of our group retirement system allows us to improve the efficiency and the quality of our services in addition to producing economies of scale that progressively reduce the costs paid by each.<\/p>\n
B\u00e2tirente is a non-profit organization whose board of directors includes eleven members elected at the annual\u00a0meeting. Five come from groups, four seats are reserved for the CSN and two independent members are\u00a0appointed by the board. B\u00e2tirente\u2019s priority is to provide its members with the services they are expecting to\u00a0receive and this, at the best cost possible. It favours complete transparency with regard to the fees paid by\u00a0participants.<\/p>\n
The board of directors of B\u00e2tirente adopted a fee policy governing the distribution of operating costs between all participating groups. The policy stipulates that, based on the size of average assets per member, on its number\u00a0of members and on the level of regular contributions paid, any group can qualify for a management fee rebate charged to members based on their investment options (see table below). The groups\u2019 fee rates are reviewed\u00a0every year. The efforts made by groups to increase the size of their assets can thus be quickly rewarded by increasing their rebate to as much as 1.25 percent. Rebate lower the standard fee rates stipulated for each\u00a0investment options. For instance, if one group qualifies for a 0.90 percent rebate, the fee rate that one will pay for\u00a0its Trajectory or for its diversified funds, whose standard fee rates are 1.95 percent, will be 1.05 percent. Please\u00a0note, however, that a number of funds are subject to minimum fees.<\/p>\n
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| Management, investment and operating fees<\/th>\n<\/tr>\n<\/thead>\n | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Money Market<\/td> | 0.75%<\/td>\n<\/tr>\n | ||||||||||||||||||||||||||||||||||
| Treasury Multi<\/td> | 1.45% minus your group\u2019s rebate<\/td>\n<\/tr>\n | ||||||||||||||||||||||||||||||||||
| Bonds Multi<\/td> | 1.65% minus your group\u2019s rebate<\/td>\n<\/tr>\n | ||||||||||||||||||||||||||||||||||
| Trajectory, a lifecycle path<\/td> | 1.95% minus your group\u2019s rebate<\/td>\n<\/tr>\n | ||||||||||||||||||||||||||||||||||
| Diversified Income \nDiversified Patrimonial \nDiversified Provident \nDiversified Intrepid \nDiversified Energetic<\/td> | \n \n1.95% minus your group\u2019s rebate<\/td>\n<\/tr>\n | ||||||||||||||||||||||||||||||||||
| Canadian Equity Multi<\/td> | 1.95% minus your group\u2019s rebate<\/td>\n<\/tr>\n | ||||||||||||||||||||||||||||||||||
| Global Equity Multi<\/td> | 2.15% minus your group\u2019s rebate<\/td>\n<\/tr>\n | ||||||||||||||||||||||||||||||||||
| Global Small Cap Equity Multi<\/td> | 2.25% minus your group\u2019s rebate<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\nSince the greater part of the fees paid by members is calculated based on their account balance, a contribution to fixed costs of $2.30\/month, for a maximum of $27.60\/year is required from every one of them so that those with low balances make a minimal contribution to costs. As stipulated in the pricing policy, these monthly fees are revised annually based on the principle of equity, changes in the Qu\u00e9bec Consumer Price Index (CPI) or any other factor established by B\u00e2tirente. On the other hand, transactions requested by individuals that do not conform to the nature of a retirement plan or that entail significant administration costs \u2013 cash withdrawals or external transfers, for instance \u2013 are subject to activity fees that prevent the cost of such individual transactions from being supported by all participants.<\/p>\nWhat are fees used for?<\/h2>\nRoughly, the fees that you pay are used to support the costs of the plan management by the administrator,\u00a0including receiving contributions, maintaining accounts, producing statements and paying benefits. They also\u00a0allow B\u00e2tirente to compensate portfolio managers and other institutions that play a key role in the asset and\u00a0fund management process.<\/p>\n Finally, thanks to them, B\u00e2tirente can provide all of the other services that members\u00a0need or that are required to ensure the efficiency of its retirement system. Most of the fees that you pay are taken\u00a0directly from your account but some of them could be paid by the funds that you participate to. Some of the fees\u00a0that you pay are taxable. To ensure that fees are published consistently, the following expressions are used in the\u00a0reports that you receive or that you consult on the website:<\/p>\n Management fees*<\/h3>\nThese fees include the amount that you pay the administrator, as negotiated by B\u00e2tirente, to manage and\u00a0administer your account and your pooled funds, and to B\u00e2tirente, to perform its duty as the intermediary between\u00a0the administrator and the unions and their members.<\/p>\n Investment and operating fees*<\/h3>\nThese fees cover the costs related to the fund managers and the asset custodian and to the investment\u00a0monitoring activities performed by B\u00e2tirente.Additional fees payable to certain fund managers only when their\u00a0actual performance exceeds the level predetermined with B\u00e2tirente are paid by the related fund1<\/sup>.<\/p>\n B\u00e2tirente authorizes the administrator to collect the following fees:<\/p>\n\n Withdrawals from your plan are subject to applicable income tax and fees. Only withdrawals made under the\u00a0Home Buyers\u2019 Plan (HBP) or the Lifelong Learning Plan (LLP) are not subject to income tax, provided that you\u00a0reimburse your RRSP according to the provisions of these plans. Nonetheless, the sums accrued in an RRSP\u00a0are for retirement purposes and should not be subject to withdrawals during your work life. Your retirement plan\u00a0is designed to provide you with a retirement income and it is strongly recommended that you allow your savings\u00a0to grow in your plan.<\/p>\n * These fees apply per event and per membership.<\/em> [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":" My retirement. Our strength. The core of B\u00e2tirente\u2019s mission is to set up a retirement system that meets the needs of unionized men and women workers and to convince a maximum number of labour unions to join it, so as to maintain costs at their lowest level. As of now, over 300 labour unions and their 30,000 members have joined B\u00e2tirente. The growth of the assets of our group retirement system allows us to improve the efficiency and the quality of our services in addition to producing economies of scale that progressively reduce the costs paid by each. B\u00e2tirente is a non-profit organization whose board of directors includes eleven members elected at the annual\u00a0meeting. Five come from groups, four seats are reserved for the CSN and two independent members are\u00a0appointed by the board. B\u00e2tirente\u2019s priority is to provide its members with the services they are expecting to\u00a0receive and this, at the best cost possible. It favours complete transparency with regard to the fees paid by\u00a0participants. How are costs shared? The board of directors of B\u00e2tirente adopted a fee policy governing the distribution of operating costs between all participating groups. The policy stipulates that, based on the size of average assets […]<\/p>\n","protected":false},"author":4,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","inline_featured_image":false,"footnotes":""},"class_list":["post-702","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"\n |