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For employers with Quebec-based employees
It’s a smart business decision to set up a workplace savings plan if your Quebec-based employees don’t already have one. You can set up a Voluntary Retirement Savings Plan (VRSP) that:
- Helps plan members save for retirement
- Helps you attract and retain employees
- Is easy to set up and manage
- Lets you decide if you want to contribute to the plan or not
With a VRSP, we administer the plan for you. That means you have fewer fiduciary duties and obligations compared to other plans.

It is a simplified Defined Contribution Pension Plan that is designed for small and medium-sized businesses.
A Manulife VRSP is simple to set up and administer
The role for you as an employer will be minimal with fewer responsibilities than traditional plans require:
- Simply notify your employees 30 days before you set up a VRSP with Manulife
- Complete the online application in as little as 20 minutes—there’s no paperwork
- Decide if you want to contribute to the plan, how much and how often
- Save plan members money with low investment management fees
- Maximize participation with automatic enrolment as soon as employees are eligible
- Work with an experienced and trusted Canadian provider of group retirement solutions for employers
- Integrate your VRSP with payroll

- A low cost solution to plan participants by pooling the assets from several companies
- Easy to understand and administer
- Employers are not required to contribute but can choose to do so if they wish
- Employer contributions will not be subject to payroll taxes
- Employer contributions are also a deductible salary expense and may be deducted from income for tax purposes
In Quebec an employer is required to set up a VRSP if they do not currently offer a workplace savings plan and have a specific number of eligible employees. Eligible employees are defined as employees with one year of uninterrupted service with the company and are at least 18 years of age.
A Quebec employer, based on the number of eligible employees, must set up a VRSP by the date outlined
Before you get started
Provincial regulations have stated that you need to notify your employees of your intent to set up a VRSP at least 30 days before entering into a contract with Manulife. Use the template letter below, add your company logo, and send a copy of the letter to each employee.
Step 1
Click Launch the eApplication Button
Step 2
Register now
Step 3
Receive confirmation email with link to eApplication
Step 4
Complete eApplication
Speak to your Manulife representative to discuss group benefit plan options to help meet your business needs.
Contact a representative