To offer and administer a VRSP, the administrator must be a legal person, either an investment fund manager, a trust corporation or a personal insurer. The administrator must have received an authorization from the Autorité des marchés financiers and registered the VRSP with Retraite Québec.
The administrator must fulfil a number of roles and meet certain requirements, including:
- carrying out transfers and refunds requested by members
- providing a plan summary to enrolled employees
- ensuring the contributions under the plan are paid
- providing information to Retraite Québec, the Autorité des marchés financiers and to members and employers.
To learn more about the roles and obligations of VRSP administrators, consult our VRSP Newsletter on the obligations of a VRSP administrator (French only).