Simplify implementation in accordance with legal obligations set out in Act 39

The government of Quebec has made retirement savings one of it’s priorities. Employers have the obligation to implement a voluntary retirement savings plan (VRSP) in the next three years, unless an equivalent plan is already in place.

Our VRSP consulting expertise

  • Explanation of available options
  • Explanation of the VRSP, your obligations, the participants’ obligation, the choice of investments, conditions and advantages
  • Needs analysis based on your objectives
  • Proposal of a plan and identification of a supplier
  • Solicitation of employee participation
  • Implementation support

 What is a VRSP?

A VRSP is a group retirement savings plan offered by the employer and administered by an authorized administrator. It is subject to the Voluntary Retirement Savings Plans Act.

Objectives of the VRSP

  • Help Quebec residents save more towards retirement
  • Offer a low-cost solution to workers
  • Gives all workers access to a private group plan

50% of workers do not have access to a retirement plan at their workplace (2 million workers in Quebec)

30% of workers have no savings at all 

VRSP = Simplicity

  • Administered by a third party, which significantly lowers the administrative burden and responsibility for the employer
  • Default parameters that facilitate decision-making
  • Limited number of investment options
  • Employees automatically registered by the employer offering the VRSP

VRSP = Flexibility

  • The employer is not obligated to make contributions
  • The employer and employees can choose and modify their rate/amount of contribution
  • Employees can opt out of the plan
  • Employees can keep contributing even after changing employers
  • Employee contributions can be withdrawn at any time

Who We Work With