If you own a business in Quebec and you don’t have a workplace registered savings plan, you must offer a voluntary retirement savings plan (VRSP) as soon as July 1, 2014.
The VRSP will be phased in over several years depending on the size of the company. For companies with 20 or more employees, a VRSP must be offered by Dec. 31, 2016. Firms with 10 to 19 employees must offer a VRSP by Dec. 31, 2017. The government is still determining a date for companies with five to nine employees. However, the province has indicated that these companies will have to offer a VRSP sometime after Jan. 1, 2018. For more information regarding the new legislation, visit our VRSP chart.
We are committed to making it easy for you to set up and maintain a VRSP so your employees can save for retirement. As a leading provider of group retirement services for Canadians, we currently administer almost twice as many plans for small businesses with fewer than 50 members* than any other provider in the country.
Keep up to date with all the details by regularly visiting this site, your VRSP headquarters. Sign up for our newsletter to get the latest news and information about VRSPs and if you have any questions about the VRSP legislation, you can also contact one of our VRSP specialists.
*As at December 2013