For over 100 years, Desjardins has helped Quebecers make financial security a daily reality. For many years we’ve known that important changes were coming to retirement regulations in Canada due to an aging population and under-financed public plans. For example, did you know that two million Quebec workers don’t have access to group retirement plans through their employer?

The Government of Quebec has therefore decided to take action by introducing new Voluntary Retirement Savings Plans (VRSPs). VRSPs will make saving even easier for employees at small and medium businesses by giving Quebecers more ways to improve their standard of living during retirement.

About 90 000 Quebec employers will have to offer their employees a group savings plan, like the VRSP, in order to conform to the law by a set date, which is based on their number of employees.

Businesses with 20 employees or more must offer a VRSP or alternative group plan before December 31, 2016.

Businesses with 10 to 19 employees will have until December 31, 2017.

Finally, businesses with less than 10 employees are under no obligation until 2018, but can still elect to participate sooner.

This is why we’ve created the Desjardins VRSP,a simple and easy solution that perfectly integrates with the Desjardins family of solutions.

With the Desjardins VRSP, each employee will automatically starts saving for retirement in a few easy steps.

First, the employer subscribes to the VRSP online or with a financial advisor by providing some basic information.

We’ll then send confirmation once the plan has been set-up.

Next, employees will receive a letter detailing their automatic enrolment into the VRSP with details for how to access the secure site from the Desjardins homepage. They can then immediately plan their retirement.

The VRSP has many other advantages for plan participants! For example, tax-sheltered contributions help their money grow, employers can contribute as well, and there’s immediate tax savings, since all contributions are made using payroll deductions.

Employers will be guided through every step of setting up their VRSP, relying on experts to answer any questions, and, if desired, have the option to contribute to their employee’s VRSP without having to pay payroll tax.

It then becomes easy to manage the plan through a secure site, with several management reports, and the help of our customer service representatives.

With the Desjardins VRSP solution, you’ll have access to multiple tools and turnkey services to manage the evolution of your plan and ensure that each employee has a well-planned retirement. In addition, you’ll benefit from Desjardins Asset Management, a group of recognized experts who will always provide competitive returns.

To learn more about the Desjardins VRSP, just visit desjardins.com/vrsp External link. Opens in a new window..

The Desjardins VRSP:your simple, accessible and integrated solution.