Slaw: PRPPs vs. VRSPs

March 22, 2012 Yosie Saint-Cyr, LL.B. Managing Editor Human Resources, Payroll, Pensions and Benefits, Source Deductions and Reporting

On March 21, 2012, Quebec became the first province to set up a detailed framework of provincial rules that will apply for PRPPs. If enacted, the VRSP (Quebec version of PRPPs) requirements will be implemented as of January 1, 2013. Employers will have until January 1, 2015, to comply with these requirements. After January 1, 2015, new employers will have one year to comply.

However, contrary to the PRPPs, the VRSP will be mandatory for some employers and the Quebec government has set a default employee contribution rate that will escalate automatically.

For more information, read my latest post on Slaw.

Yosie Saint-Cyr
First Reference Human Resources and Compliance Managing Editor

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Yosie Saint-Cyr, LL.B. Managing Editor

Managing Editor at First Reference Inc.

Yosie Saint-Cyr, LL.B., is a trained lawyer called to the Quebec bar in 1988 and is still a member in good standing. She practiced business, employment and labour law until 1999. For over 18 years, Yosie has been the Managing Editor of the following publications, Human Resources Advisor, Human Resources PolicyPro, HRinfodesk and Accessibility Standards PolicyPro from First Reference. Yosie is one of Canada’s best known and most respected HR authors, with an extensive background in employment and labour across the country. Read more