QUEBEC CITY, Dec. 4, 2013 /CNW Telbec/ - Industrial Alliance is pleased
to announce that, starting on July 1, 2014, it will be offering the
voluntary retirement savings plan (VRSP), the new vehicle created by
the Quebec government to encourage more Quebecers to save for
Bill 39, the Voluntary Retirement Savings Plans Act, was adopted by the National Assembly on December 3 and the date of
entry into force was set for July 1, 2014. From this date, Quebec
companies will be able to start providing the VRSP. In the next few
years, this new plan will become mandatory for companies with five or
more employees that do not currently offer all their employees a group
Quebec is asking that the VRSP be easy to set up and administer,
accessible and available at a reasonable cost. The solution designed by
Industrial Alliance is simple and efficient, the perfect fit for the
needs of small businesses.
"Industrial Alliance's primary focus will be simplicity. We want to ease
employers' administrative burden by making it quick and straightforward
to set up a VRSP. We also want to help workers save by giving them
accessible, inexpensive investment options that will make their
decision-making process easier," stated Renée Laflamme, Vice-President,
Group Savings and Retirement.
With the addition of the VRSP to its range of group retirement plans,
Industrial Alliance continues to support government initiatives to help
workers save more for their retirement, showing its commitment to help
bridge current retirement savings gaps.
About Group Savings and Retirement
Group Savings and Retirement offers a wide range of products and
services adapted to the needs of savings and retirement plan members.
It offers savings products, such as defined contribution plans, as well
as institutional money management services and disbursement products.
It provides its plan members with a large choice of investment options,
such as segregated funds and guaranteed interest investments. With
regional offices across Canada, the Group Savings and Retirement sector
is one of the largest group savings and retirement service providers in
About Industrial Alliance
Founded in 1892, Industrial Alliance Insurance and Financial Services
Inc. is a life and health insurance company with operations in all
regions of Canada as well as in the United States. The Company offers a
wide range of life and health insurance products, savings and
retirement plans, RRSPs, mutual and segregated funds, securities, auto
and home insurance, mortgage loans and other financial products and
services for both individuals and groups. The fourth largest life and
health insurance company in Canada, Industrial Alliance contributes to
the financial wellbeing of over three million Canadians and employs
more than 4,400 people. With the recent acquisition of Jovian Capital
Corporation on October 1, 2013, the Company now manages and administers
about $95 billion in assets. Industrial Alliance stock is listed on the
Toronto Stock Exchange under the ticker symbol IAG.
SOURCE: Industrial Alliance Insurance and Financial Services Inc.
For further information:
Manager, Public Relations
Office: 418-684-5000, ext. 1660