Is the Fonds' RRSP+ by payroll deduction an alternative to the voluntary retirement savings plan (VRSP)?

Yes. As an employer, you are required to implement a VRSP if your company has 10 or more employees who are at least 18 years of age and have at least one year of uninterrupted service as defined by the Act respecting labour standards.

You are exempt from implementing a VRSP if you offer a registered retirement savings plan or registered pension plan to all your employees;


you offer all your employees the opportunity to contribute to an RRSP or a TFSA through payroll deduction.

Thus, an employer offering the Fonds de solidarité FTQ RRSP+ by payroll deduction to all its employees is not required to set up a VRSP within their company.

Learn more about the differences between the VRSP and RRSP+ by payroll deduction and their specific characteristics.

Learn more about the VRSP

Source: Retraite Québec