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.

Legal deadline to offer a VRSP

Employers who have at least 5 employees on December 31 of a year AND at least 10 employees by June 30 of the following year are required to subscribe to a VRSP by December 31 of the same year.

(For example: if you have 5 employees on December 31, 2019 and you have 10 on June 30, 2020, you must subscribe to a VRSP * by December 31, 2020.)

From the date of your online request, a maximum of three months is required to set up your VRSP.

*It’s also possible to offer a different group retirement savings plan. Call our Customer Contact Centre to determine which one is best for you.


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


  • No minimum rate
  • Locked in
  • Non-taxable as 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


  • 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

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