One year later...
Wednesday, December 3, 2014
A year ago, on December 3, 2013, the Government of Quebec adopted the bill regarding VRSPs, thus giving all Quebec residents access to a private group savings and retirement plan.
A year later...have you thought about starting a VRSP? Although the first deadline is not until December 31, 2016 (companies with 20 or more employees), we believe that it is in your best interest to not wait until the last minute.
3 good reasons to look into a VRSP now:
1. Avoid the rush!
Remember that the VRSP is aimed at 90,000 Quebec companies. As deadlines approach, many companies will rush to comply with the law and put in place this new plan.
By getting an early start, you will have all the time you need to study the options available to you, to discuss these with your advisor if you wish, and to make the best decisions for your company.
2. Help your employees secure their financial future!
Time is your employees’ best ally to grow their savings and it's in their best interests to start saving early. They will be thankful that you are offering them this option. Don’t forget that each small amount invested is a small step toward a comfortable retirement!
Moreover, by taking action before the deadlines, you are showing your employees that you take their financial future to heart and that you are not putting in place a VRSP only because you are required to by the government.
3. Set yourself apart from the competition!
Do you operate in a sector where qualified labour is a rare commodity? Do you have a high turnover rate?
While a VRSP is not a magic wand that will magically change everything, do not underestimate the value of a group retirement plan. In fact, 41% of workers who do not have a savings and retirement plan at work would consider changing jobs if another employer offered this type of plan.
Thus, by offering a retirement plan, you have an additional asset that will keep your employees loyal and maybe even attract new ones.
Go ahead! Benefit from a VRSP now!You’ll come out a winner!
Visit iavrsp.com to learn more about VRSPs and the Industrial Alliance VRSP solution.
To contact our VRSP team:
- Email:
- Toll-free: 1-855-823-VRSP (8777)