Morneau Shepell To Administer VRSP

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Jul 07, 2014

Morneau Shepell Asset & Risk Management has received approval from the Autorité des marchés financiers to administer a voluntary retirement savings plan (VRSP). A VRSP is a retirement saving vehicle that became available in Québec on July 1. It is designed to help employees without access to other workplace plans grow their retirement savings. "It is mandatory for employers that meet certain criteria to make a VRSP available to their employees," says Jean Bergeron, partner and practice leader for Morneau Shepell's investment consulting practice. "VRSPs are, however, voluntary in the sense that employees can decide whether or not they want to participate in the VRSP that is made available to them by their employer. They can also choose their contribution rate and investment options." (end of article)

Source: Benefits and Pensions Monitor