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You are here: Home > Business > Group plans > Group retirement savings solutions > Voluntary Retirement Savings Plan (VRSP)

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Voluntary Retirement Savings Plan (VRSP)

Your easy, accessible and integrated solution!

  • Plan administration and employee enrolment is managed for you
  • Guidance and support at every stage of VRSP set-up
  • Educational materials provided to participants
  • No fees for employers; minimal fees for employees
  • Diversified investments benefit from the expertise of world renowned fund managers.


  • Participants can build their retirement capital at a competitive rate.
  • Grouping of individual plans under a centralized administration.
  • VRSP contributions are subject to annual RRSP contribution limits.
  • The amount of the salary contributions may be determined by the participant. A default rate will apply for employees who don't want to set their contribution rates when they join. The initial contribution rate will be set at 2%.
  • Employers can choose whether to contribute to their employees' VRSPs, but are not bound by law to do so.
  • Employee contributions are not locked-in (withdrawals subject to provincial and federal tax).
  • Employer contributions are locked-in.
  • Simple investment options are available, such as the Desjardins Balanced Path in which the risk level is adjusted based on the participant's age. In addition, 5 à la carte funds with a range of risk levels are available. The default option for participants who do not make a choice is the Desjardins Balanced Path.
  • Easy administration, handled by Desjardins Insurance3.
  • Guidance and support provided at each step of VRSP implementation.
  • Educational materials for participants provided.
  • Telephone line for all your questions.
  • Option to contribute or not to employees' VRSPs. Employers who choose to do so can determine how much they want to contribute (no minimum).
  • Contributions are not subject to payroll taxes.
  • Efficient way to build loyalty among employees and motivate them.
  • An opportunity to build up a retirement fund.
  • Attractive management fees.
  • Contributions are tax-sheltered.
  • The employer can contribute to your VRSP.
  • Immediate tax savings: contributions are deducted from your gross salary.
  • Simple investment options, including a lifecycle path in which the risk level is adjusted based on your age.
  • Contributions are deducted at the source, which promotes systematic savings.
  • Minimum contribution possible.
  • VRSP transfers from a Supplemental Pension Plan (SPP), a Deferred Profit-Sharing Plan (DPSP), an individual Registered Retirement Savings Plan (RRSP) or another VRSP allowed.
  • Option of continuing to contribute, even after leaving your employer.
  • Employer contributions are vested immediately even if you leave your job, but they are locked-in, which means you cannot withdraw them before retirement.
  • The ability to withdraw your own contributions, subject to provincial and federal withholding taxes.

Self-employed workers can also open a VRSP to benefit from the advantages of a group plan.

To get your VRSP, call 1-855-702-VRSP (8777).

Please read the contract (PDF, 89 KB) and plan text (PDF, 153 KB) before contacting us.

  1. According to the Act respecting voluntary retirement savings plans.
  2. The Quebec government will specify the date, but it will not be prior to 2018. Companies with fewer than 10 employees can, however, choose to set up a VRSP now.
  3. Desjardins Insurance refers to Desjardins Financial Security Life Assurance Company.