Quebec’s New Pension Reform Proposals: Effective Solutions In The Works?

As in many other jurisdictions in Canada, Quebec's pension landscape is in the midst of significant change driven by the issues of pension coverage, adequacy and sustainability. Notable highlights for 2013 included:

• the release of a report by the pension expert committee mandated to analyze the state of Quebec's retirement income system and to make recommendations on how to improve it (D'Amours Report);
• a special public consultation of the Committee on Public Finance on the D'Amours Report and the release of the Committee's own recommendations (French only);
• a public consultation of the Committee on Public Finance on the "voluntary retirement savings plans" (or "VRSPs", Quebec's version of the pooled registered pension plans) and the adoption of Bill 39 allowing for the establishment of VRSPs effective July 1, 2014;