Standard Life in Canada has obtained all necessary approvals to offer Voluntary Retirement Savings Plans (VRSP) to Québec workers.
"We have developed a simple VRSP solution that is easy to set up and manage for Québec employers and advisors — it only takes about 15 minutes to join online," said Philippe Toupin , Vice President, Group Solutions, at Standard Life.
"We believe the plan’s compulsory membership for companies and freedom of choice for employees will make this new retirement savings vehicle successful in helping to ensure a retirement income for many more Québec workers."
Standard Life recognizes the leadership of the Government of Québec in providing near universal pension coverage to workers.
Standard Life continues to call on other provincial and territorial finance ministers to develop similar initiatives that include compulsory sponsorship and automatic enrolment so that the retirement outcomes of many more Canadian workers can be improved.