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
- Ontario introduces Bill 79, Working for Workers Act, 2023 - March 29, 2023
- Call for a ban on NDAs in certain cases - March 1, 2023
- First Reference annual holiday donation, season’s greetings, and holiday break - December 23, 2022