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ARTICLE · 27 OCTOBER 2013

BILL 39 – Voluntary Retirement Savings Plans Act

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On May 8, 2013, the Government of Québec tabled Bill 39, Voluntary Retirement Savings Plans Act (Bill).

CanadaEmployment and HR
Guylaine Lacerte
Guylaine Lacerte
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On May 8, 2013, the Government of Québec tabled Bill 39, Voluntary Retirement Savings Plans Act (Bill). On April 17, 2013, an expert committee on the future of the Québec retirement system had published the D'Amours Report, recommending that the Government promptly implement voluntary retirement savings plans. The D'Amours Report produced a profile of the Québec retirement system and proposed a set of recommendations to ensure its viability, while considering the new economic and demographic realities.

The Bill addresses many of the D'Amours Report's recommendations. It establishes a new type of retirement plan, the Voluntary Retirement Savings Plan (VRSP) that is accessible, to the extent that fiscal rules allow it, to all individuals, including self-employed workers and workers whose employer has not subscribed to such a plan. It is intended to encourage retirement savings by Québec workers.

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