In Quebec, an employer is required to establish a VRSP if it does not already provide a retirement savings plan at work and has a defined number of eligible employees. By “eligible employees” refers to employees who have one year of continuous service with the company and who are 18 years of age or older.
The voluntary retirement scheme (VRSP) is designed specifically for those SMEs that did not already have in place a retirement savings plan at work. The VRSP is an excellent savings product that helps business owners to motivate their employees to retain their most talented elements and attract the best workers.
What is a VRSP ?
The VRSPs is a new type of savings plan collective. This is a defined contribution pension plan whose operation is simpler than a traditional diet. The VRSP provides substantially the same fiscal advantages as traditional pension plans, both employers and employees.
Feel free to contact an advisor of Excel private wealth who will be pleased to answer your questions and will guide you to setting up a VRSP regime.