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
Managing Editor at First Reference Inc.
Marie-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 20 years, Yosie has been the Managing Editor at First Reference. She manages the PolicyPro Human Resources and Internal Controls editions, The Human Resources Advisor editions, PaySource and the HRinfodesk news service as well as the blogs. Marie-Yosie (a.k.a. Yosie) is a recognized and respected author, with an extensive background in human resources, employment and labour across the country.
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