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VRSP - Voluntary Retirement Savings Plan

As of July 1, 2014, the Voluntary Retirement Savings Plan (VRSP) will gradually be available in Québec businesses to employees who choose to enroll in the plan. Self-employed workers and any other interested persons will also be able to subscribe independently to a VRSP.

Role of the AMF in VRSP offerings

The AMF has been designated to issue authorizations to life insurers, trust companies and investment fund managers, and to ensure their compliance with the criteria for maintaining this authorization.

A legal person that wishes to offer a VRSP must first obtain authorization from the AMF to act as administrator of the plan and then must register its plan with the Régie des rentes du Québec (the “Régie”). 

Who will be authorized to provide a VRSP to businesses and individuals?

The following legal persons can apply to the AMF for authorization to act as plan administrators:

  • insurers carrying out life insurance business;
  • trust companies;
  • investment fund managers.

To obtain authorization, they must, in particular:

  • demonstrate that they have the operational capability required to administer large groups;
  • demonstrate their expertise in financial and retirement products;
  • provide a document attesting that their assets exceed their liabilities, or a letter of credit or a suretyship in an amount determined by regulation.

Sign up for E-mail Info

To ensure that you receive up-to-date information about changes to the authorization process, we encourage you to sign up for E-mail Info. Select VRSPs from the list of areas of interest.

Information Centre

For questions about VRSPs, contact the AMF Information Centre,

The Régie des rentes and the Commission des normes du travail

The Régie des rentes du Québec (RRQ) is responsible for registering and supervising VRSPs. Please consult the RRQ website for more information.

The Commission des normes du travail will ensure that employers covered by the legislation comply with their obligation to provide VRSPs to their employees.