The distribution rules set out in An Act respecting the distribution of financial products and services This link will open in a new window and the Québec Securities ActThis link will open in a new window, which are administered by the AMF, govern the distribution of VRSPs to employers and individuals. Therefore, representatives distributing VRSPs must hold a valid licence for the financial product they are providing (insurance or securities).

Life insurer

If you are a life insurer, you can provide a VRSP to an employer through a group insurance and annuity advisor or through a group annuity plan advisor. VRSPs can also be provided through an actuary as part of his activities.

VRSPs intended for individuals must be provided through financial security advisors.

As a VRSP administrator, you can also provide this plan without an intermediary when no advice is requested or given.

Until December 31 2017This date was set in accordance with section 139 of the Voluntary Retirement Savings Plans Act, CQLR, c. R-17.0.1, by Ministerial Order M.O., 2014-13, 2015 G.O. 2, 73.

This date was set in accordance with section 139 of the Voluntary Retirement Savings Plans Act, CQLR, c. R-17.0.1, by Ministerial Order M.O., 2014-13, 2015 G.O. 2, 73., under the Voluntary Retirement Savings Plans ActThis link will open in a new window, you can also provide a VRSP to an employer through a financial security advisor or a group insurance plan advisor. This exception to the distribution rules set out in An Act respecting the distribution of financial products and services This link will open in a new window is intended to meet the demand for VRSP subscriptions, which will be higher in the first few years. However, the Voluntary Retirement Savings Plans Act specifies that this exception does not apply when a voluntary retirement savings plan is provided to an employer as a substitute for another VRSP to which the employer is already subscribed.

This exception also does not apply to the transfer of pension plan assets to a VRSP. Such transfers require that advice be given to the employer regarding this other pension plan. In accordance with the distribution rules under An Act respecting the distribution of financial products and services This link will open in a new window, such advice must be given to an employer through a group insurance and annuity advisor or through a group annuity plan advisor.

As of December 31, 2017, the distribution rules under An Act respecting the distribution of financial products and services This link will open in a new window must be respected.

Please refer to the Notice regarding distribution of voluntary retirement savings plans provided by insurers.

Trust company or Investment fund manager

If you are a trust company or an investment fund manager, you can provide a VRSP to an employer or an individual through a representative of a dealer registered under the Québec Securities ActThis link will open in a new window or through a person exempt from registration under this Act.

As a VRSP administrator, you can also provide this plan without an intermediary when no advice is requested or given.

Insurance representative

Group insurance and annuity advisors and group annuity plan advisors can provide VRSPs administered by life insurers to employers.

Financial security advisors can provide VRSPs administered by life insurers to individuals and advise plan members on VRSP investment options.

Until December 31, 2017This date was set in accordance with section 139 of the Voluntary Retirement Savings Plans Act, CQLR, c. R-17.0.1, by Ministerial Order M.O., 2014-13, 2015 G.O. 2, 73.

This date was set in accordance with section 139 of the Voluntary Retirement Savings Plans Act, CQLR, c. R-17.0.1, by Ministerial Order M.O., 2014-13, 2015 G.O. 2, 73., under the Voluntary Retirement Savings Plans ActThis link will open in a new window, financial security advisors and group insurance plan advisors can provide VRSPs administered by life insurers to employers. This exception to the distribution rules under An Act respecting the distribution of financial products and services This link will open in a new window is intended to meet the demand for VRSP subscriptions, which will be higher in the first few years. However, the Voluntary Retirement Savings Plans Act specifies that this exception does not apply when a VRSP is provided to an employer as a substitute for another VRSP to which the employer is already subscribed.

This exception also does not apply to the transfer of pension plan assets to a VRSP. Such transfers require that advice be given to the employer regarding the other pension plan. In accordance with the distribution rules under An Act respecting the distribution of financial products and services This link will open in a new window, such advice must be given to an employer through a group insurance and annuity advisor or a group annuity plan advisor.

As of December 31, 2017, the distribution rules under An Act respecting the distribution of financial products and services This link will open in a new window must be respected.

Please refer to the Notice regarding distribution of voluntary retirement savings plans provided by insurers.

Representative of a dealer registered or Person exempt

If you are a representative of a dealer registered under the Québec Securities ActThis link will open in a new window or a person exempt from registration under this Act, you can provide a VRSP administered by a trust company or an investment fund manager to an employer or an individual.

Employer

If you are an employer, you can provide a VRSP to your employees without an intermediary.