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  • Account Types
  • TFSA: Tax-free savings account
FÉRIQUE Investment Services

TFSA: Tax-free savings account

TFSA: Tax-free savings account

A flexible solution to grow your savings tax-free.

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CELI
  • TFSA  
  • TFSA  
  • TFSA  
  • TFSA  
  • TFSA  
  • TFSA  
  • 18 years old

    Age at which you can start contributing

  • $6,500

    Annual contribution room for 2023*

  • $88,000

    Total TFSA contribution room since the account’s inception for this year**

  • What is a TFSA? What is a TFSA?
  • Benefits of a TFSA Benefits of a TFSA
  • Your projects Your projects
  • Ready to invest? Ready to invest?
  • Advice Advice
  • Our investment solutions Our investment solutions
  • Questions? Questions?
  • Articles Articles
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What is a TFSA?

A TFSA allows you to grow your savings tax-free while making contributions and withdrawals any time you want. You can contribute and withdraw money tax-free at your convenience.

It’s the perfect tool to grow your assets for completing a special project in the near, medium or long term. Grow your savings tax-free throughout your life and make your projects a reality!

Open an account Plan your project

Benefits of a TFSA

Benefits of a TFSA
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Contribute at any time

The beauty of a TFSA is that you can make as many contributions as you want as long as you stay within your contribution limit.

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Make withdrawals at any time

You can make withdrawals from your tax-free savings account whenever you need to.

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Earn tax-free investment income

As long as you follow the TFSA rules set up by the Government of Canada, you can make withdrawals and earn income from your investments tax free.

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Reach your goals with a TFSA

The TFSA is a very versatile tool because of its flexibility. It can be used to save for a major project or build an emergency fund. It’s also a perfect complement to an RRSP for growing your assets tax-free, making non-taxable withdrawals or continuing to set money aside when you’ve reached your RRSP’s annual contribution limit.

Which projects can you accomplish with a TFSA?

Which projects can you accomplish with a TFSA?

Are you saving to buy a home, start a business or take a dream vacation? Your TFSA could help you accumulate the amount you need faster than if you were setting money aside in a conventional savings account.

Plan your project Life projects
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Buying a property  Buying a property  
Buying a property  Buying a property  
Buying a property  Buying a property  
Buying a property  Buying a property  
Buying a property  Buying a property  
Buying a property  Buying a property  
Buying a property  Buying a property  
Buying a property  Buying a property  
Buying a property  Buying a property  
Buying a property  Buying a property  
Buying a property  Buying a property  
Buying a property  Buying a property  
Buying a property
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Saving for education  Saving for education  
Saving for education  Saving for education  
Saving for education  Saving for education  
Saving for education  Saving for education  
Saving for education  Saving for education  
Saving for education  Saving for education  
Saving for education  Saving for education  
Saving for education  Saving for education  
Saving for education  Saving for education  
Saving for education  Saving for education  
Saving for education  Saving for education  
Saving for education  Saving for education  
Saving for education
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Planning your retirement  Planning your retirement  
Planning your retirement  Planning your retirement  
Planning your retirement  Planning your retirement  
Planning your retirement  Planning your retirement  
Planning your retirement  Planning your retirement  
Planning your retirement  Planning your retirement  
Planning your retirement  Planning your retirement  
Planning your retirement  Planning your retirement  
Planning your retirement  Planning your retirement  
Planning your retirement  Planning your retirement  
Planning your retirement  Planning your retirement  
Planning your retirement  Planning your retirement  
Planning your retirement
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Opening a TFSA

Opening a TFSA
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Need advice?

You can count on our Advisory team’s sound and objective advice to assess your needs or financial goals and ensure you are using the right investment strategies to do so.

Find out more
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Three ways to open an account

Open an account online whenever you want, on the phone or by appointment with a member of our Advisory team.

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Your first contribution 

Open a TFSA with a $500 initial investment or by setting up a pre-authorized contribution plan for $50 each month.

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Did you know?

A TFSA is a great savings solution for many reasons. If you have any questions, our Advisory team is there for you.

Contact the Advisory team
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    Withdrawals made from your TFSA will be added back to your TFSA contribution room the following year. For example, if you withdraw $5,000 this year, your contribution room will increase by $5,000 the next year.

    Advisory Team

    FÉRIQUE Investment Services

Invest in mutual funds

Invest in mutual funds

FÉRIQUE Funds and Portfolios provide you with a range of investment opportunities to help you reach your goals and complete your projects. You will find products suited for every investor profile.

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FÉRIQUE Portfolios

Turnkey investment solutions comprised of several funds that are suitable for different types of investors.

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FÉRIQUE Funds

A range of funds that allow you to invest in various sectors of the economy, regions of the world or asset classes.

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Responsible investment

A responsible investing approach focused on the long term that underpins the entire line of FÉRIQUE Funds and Portfolios.

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Questions?

Questions?

Want to learn more about our investment and saving solutions? Find answers to your questions in our FAQ.

See all questions

No. When you turn 18, your contribution room starts to grow each year, whether you earn income or not.

No, because TFSA withdrawals are tax-free.

Investment losses incurred in a TFSA cannot be used to offset other taxable capital gains.

Overcontributions are subject to a 1% penalty tax per month for each month that the excess amount stays in the account. The penalty will be applied until either the overcontribution is withdrawn in full or your contribution limit is increased and the contribution you made falls within the new limit.

Discover other accounts you may find interesting

Discover other accounts you may find interesting

Diversify your investment and savings solutions

Discover all the accounts available
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LIRA

Transfer the assets accrued in an employer-sponsored retirement plan or pension fund when you change jobs.

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RRSP

Grow your savings tax-free to ensure your financial well-being during retirement.

Find out more
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RESP

Save and grow money to pay for your children’s post-secondary education.

Find out more

Get to know more about TFSAs

Get to know more about TFSAs
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    RRSP & TFSA
    4 mins
    Dispelling seven myths about RRSPs and TFSAs
    Read article
    Read article: (Dispelling seven myths about RRSPs and TFSAs)
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    RRSP & TFSA
    4 mins
    The TFSA: a useful vehicle for retirement planning
    Read article
    Read article: (The TFSA: a useful vehicle for retirement planning)
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    RRSP & TFSA
    3 mins
    The TFSA, Tax-Free Savings Account
    Read article
    Read article: (The TFSA, Tax-Free Savings Account)
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    RRSP & TFSA
    8 mins
    5 ways you can use your RRSP and TFSA other than for retirement
    Read article
    Read article: (5 ways you can use your RRSP and TFSA other than for retirement)

* This amount does not take into account the contribution room that you may have accrued over the years.

** Total contribution room is the total amount you are allowed to contribute to your TFSA without incurring a tax penalty. The contribution room is cumulative, which means that it adds up year after year (since 2009 or the year you turned 18) if you don’t use it.

Achieve financial independence faster

Think about the future. Start investing today.

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FÉRIQUE Fund Management and FÉRIQUE Investment Services are non-profit organizations that work in your sole interest. Our mission: to accelerate the financial autonomy of engineering professionals in Quebec.

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