“Does Épargne Placements Québec offer the same protection as Canadian banks in the event of bankruptcy or inability to pay? Am I as well protected?” – Louise Bouchard
The Quebec government assures that it fully protects the capital and interest that savers accumulate. The government maintains that the capital and interest are therefore repayable at their full value.
This protection is also widely considered in the industry as the primary attraction of the products offered by Épargne Placements Québec.
“For all Épargne Placements Québec products, the Quebec government guarantees the capital invested by clients, without any amount limits,” explains Philippe Bérubé, communications advisor in the communications department of the Quebec Ministry of Finance.
The Press has already highlighted in its pages that security is often sought among elderly savers, more concerned with preserving their retirement capital than with the possibility of keeping it at risk in the markets.
The government banner Épargne Placements Québec has existed since 1996. At the time, the Quebec government created it to help it achieve its financing objectives on the Quebec savings market and to offer a range of savings products “better adapted” to the investment needs of the province’s citizens.
For banks, the Canada Deposit Insurance Corporation protects the assets of savers in their bank accounts, term deposits and guaranteed investment certificates up to $100,000. Detailed information can be found on the federal Crown corporation’s website.
Visit the Canada Deposit Insurance Corporation website
Visit the Épargne Placements Québec website
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