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Wondering how a voluntary retirement savings plan could benefit you?

Passed in 2014, the Voluntary Retirement Savings Plan Act gives all Québec workers access to a voluntary retirement savings plan (VRSP).

By December 31, Québec businesses with 10 or more employees subject to the Act will be required to offer their employees a VRSP or another group retirement savings plan.

For employers, a VRSP is:

  • simple and inexpensive to administer; 
  • a great way to attract and retain employees. 

In addition, employer contributions to a VRSP are deductible from the business's taxable income and are exempt from payroll taxes.

For employees, a VRSP offers:

  • automatic enrolment;
  • flexible contribution rates; 
  • tax-deductible contributions;
  • an array investment options;
  • low management fees.

For more information on setting up a VRSP in your business, visit http://www.rrq.gouv.qc.ca/en/retraite/rver/Pages/rver.aspx.

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