Épargne Placements Québec is an administrative unit of the
Quebec Ministry of Finance. It is responsible for marketing and managing
savings
Wealth is the abundance of valuable financial assets or physical possessions which can be converted into a form that can be used for transactions. This includes the core meaning as held in the originating Old English word , which is from an I ...
and
retirement
Retirement is the withdrawal from one's position or occupation or from one's active working life. A person may also semi-retire by reducing work hours or workload.
Many people choose to retire when they are elderly or incapable of doing their j ...
products issued and guaranteed by the Quebec government.
The function of Épargne Placements Québec is to foster the financial security of Quebecers by offering them a range of savings and retirement products guaranteed by the Quebec government.
History
In the spring of 1996, Placements Québec was established by the Quebec government to achieve its funding objectives on the Quebec savings market and to offer a range of savings products better adapted to Quebecers' investment needs.
Since 1963, the Quebec government had offered Quebec Savings Bonds. Before the creation of Placements Québec, the holder was issued a physical certificate as evidence that he held the purchased product. To redeem his
bond
Bond or bonds may refer to:
Common meanings
* Bond (finance), a type of debt security
* Bail bond, a commercial third-party guarantor of surety bonds in the United States
* Chemical bond, the attraction of atoms, ions or molecules to form chemical ...
, the holder had to present the certificate they had received at the time of purchase.
With the creation of Placements Québec, the offering of savings and retirement products issued by the Quebec government was diversified to reflect Quebecers' savings need. In addition, with this new entity, physical certificates were replaced with the registration of savings products in a book-based system, i.e. the registration of a security in the holder's account. This approach facilitates transactions for bondholders and eliminates the risk of loss, theft and destruction of physical certificates.
In January 2003, ''Placements Québec'' became ''Épargne Placements Québec'' to better convey the mission of the organization.
External links
Official site
{{DEFAULTSORT:Epargne Placements Quebec
Economy of Quebec
Government of Quebec