Morneau Shepell Voluntary Retirement Savings Plan Registered and Ready for Retirement Savings
21 Aug, 2014, 10:52 ET
Morneau Shepell Asset & Risk Management Ltd. provides easy-to-use VRSP for Québec organizations and their employees
MONTREAL, Aug. 21, 2014 /CNW/ - Morneau Shepell Asset & Risk Management Ltd., a wholly-owned subsidiary of Morneau Shepell, has completed the final step required to offer a Voluntary Retirement Savings Plan (VRSP). After first being approved by the Autorité des marchés financiers to act as an administrator, the company has now registered the Morneau Shepell VRSP with the Régie des rentes du Québec. A VRSP is a new retirement savings vehicle that became available in Québec as of July 1, designed to help employees without access to other workplace plans grow their retirement savings.
"We're pleased to be able to offer Québec employers a turnkey VRSP solution, making it possible for thousands of employees to have easy access to an affordable retirement savings plan," said Luc Grandchamp, Partner with Morneau Shepell. "We bring our experience as one of the largest pension plan administrators in Canada, serving over five million plan participants, as well as our expertise in helping employers, large and small, in Québec and the rest of the country."
In addition, Morneau Shepell has integrated payroll solutions with several providers, simplifying contribution remittance for employers that use the services of one of these payroll companies.
"Our focus is on offering a simple, effective VRSP to organizations," stated Idan Shlesinger, Managing Partner, Defined Contribution Pensions and Savings Plans. "Our solutions are not insurance-based and provide high levels of transparency and independence."
The Morneau Shepell VRSP is currently available to Québec employers that want to introduce the program before legislated deadlines. According to Grandchamp, "we're ready to implement our VRSP solution – one that's easy for employees to understand and will encourage them to increase their retirement savings."
For more information about the Morneau Shepell VRSP, please visit our VRSP website at prpp.morneaushepell.com.
About Morneau Shepell Asset & Risk Management Ltd.
Established in 2012, Morneau Shepell Asset & Risk Management was launched as an extension of Morneau Shepell's asset and risk services department to help achieve targeted investment outcomes for clients and provide pension plan sponsors with a new investment approach and asset allocation. By pioneering the outcome-oriented style of investing, Morneau Shepell Asset & Risk Management assists investors by emphasizing downside protection, reduced volatility, and controlled risk.
About Morneau Shepell Inc.
Morneau Shepell is the largest company in Canada offering human resources consulting and outsourcing services. The Company is the leading provider of Employee and Family Assistance Programs, as well as the largest administrator of retirement and benefits plans and the largest provider of integrated absence management solutions in Canada. Through health and productivity, administrative, and retirement solutions, Morneau Shepell helps clients reduce costs, increase employee productivity and improve their competitive position. Established in 1966, Morneau Shepell serves more than 20,000 clients, ranging from small businesses to some of the largest corporations and associations in North America. With approximately 3,600 employees in offices across North America, Morneau Shepell provides services to organizations across Canada, in the United States, and around the globe. Morneau Shepell is a publicly-traded company on the Toronto Stock Exchange (TSX: MSI). For more information, visit morneaushepell.com.
SOURCE: Morneau Shepell - Corporate
For further information: Cathren Ronberg, Director, Corporate Communications, Morneau Shepell, 416-355-5632, [email protected]
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