VRSP

VRSPs are only available in Quebec. They were introduced to make it easier for employees of small businesses to save for retirement. The VRSP solution offered by Desjardins is 100% online, making it an easy and convenient choice for you and your employees.

VRSP deadlines

  • 20 or more employees: December 31, 2016
  • 10 to 19 employees: December 31, 2017
  • 5 to 9 employees: not yet announced, but not before 2018

Apply for a VRSP online and it’ll be up and running within 3 months.

Advantages

For employersFor employees
  • No fees
  • Lots of plan set-up support
  • Educational materials for plan members
  • Low management fees
  • Contributions accumulate tax-free
  • The employer can also make contributions
  • Immediate tax savings, since contributions are deducted at source

Contributions

EmployerEmployee
  • No minimum rate
  • Locked in and not subject to payroll taxes
  • Vested immediately
  • Subject to annual RRSP contribution limit
  • Employees can keep contributing, even after they leave the company
  • Spousal contributions not permitted
  • Not locked in

Details

AdministrationInvestments
  • Plan must be registered with Retraite Québec and with the Canada Revenue Agency
  • Regulatory fees paid via Desjardins Insurance
  • No annual meeting required
  • Employees responsible for their investment choices
  • Investment policy not required

Want to set up a Desjardins VRSP?

By phone

for self-employed workers or for general information

1-855-702-8777. This link will launch your default phone software.

This text is for information purposes only. Refer to the policy for all conditions, exclusions and restrictions.