By Julius Melnitzer | August 3, 2024
Businesses that are planning to establish themselves in Quebec by way of expansion or acquisition should be aware of some unique aspects of the province’s pension and benefits laws.
Employers are required to make a voluntary retirement savings plan available to their employees. In addition, provincial legislation prohibits ‘orphan’ or ‘grandfathering’ clauses that distinguish pension or other benefits available to employees based solely on an employee’s hiring date.
“Although these requirements are not always top of mind, non-compliance can prove costly,” says Mark Firman, a tax group partner in Stikeman Elliott LLP’s Montreal office.
The VRSP requirement, mandated by the Quebec Voluntary Retirement Savings Plans Act, applies to . . . MORE
Julius Melnitzer is a Toronto-based legal affairs writer, ghostwriter, writing coach and media trainer. Readers can reach him at [email protected] or https://legalwriter.net/contact.
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