Voluntary Retirement Savings Plans (VRSPs)

Nearly half the workers in Québec do not have access to a retirement savings plan offered by their employers, making it more difficult for such workers to save enough for retirement.

However these workers now have access to voluntary retirement savings plans.

What is a VRSP?

VRSPs are group savings plans offered by employers and administered by authorized administrators. They are governed by the Act respecting voluntary retirement savings plans.


Useful information

VRSPs are mainly for employees who do not have access to a group retirement savings plan with source deductions offered by their employers. Employees must be 18 or over and have at least one year of uninterrupted service, as defined in the Act Respecting Labour Standards.

Employees will not have to take any steps to sign up; it will be done automatically. Self-employed workers and any other interested parties will also be able to sign up for VRSPs by contacting an authorized administrator.

Employers affected by the Act must offer a (VRSP) at the latest as of:

  • 31 December 2016, for employers with at least:
    • 5 eligible employees on 31 December 2015, and
    • 20 or more eligible employees on 30 June 2016;
  • 31 December 2017, for employers with at least:
    • 5 eligible employees on 31 December 2016; and
    • 10 or more eligible employees on 30 June 2017.
  • Until the date to be determined by the government, an employer with at least 10 eligible employees on 30 June of a given year will have to offer a VRSP as of 31 December of that year, at the latest, if the employer had at least 5 eligible employees on 31 December of the previous year.
  • As of the date to be determined by the government, an employer with at least 5 eligible employees on 31 December of a given year will have to offer a VRSP as of 31 December of the following year, at the latest.

Other employers can offer a VRSP on a voluntary basis.

Your employer can now offer a VRSP.

Worth knowing about...

The Commission des normes, de l'équité,de la santé et de la sécurité du travail This link will open in a new window. ensures that your employer respects his or her obligations, particularly the obligation to offer a VRSP to his or her employees. However, you can choose to remain signed up or not to the VRSP.

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