This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Manulife VRSP Available To Over 50,000 Quebec Organizations

Stocks in this article: MFCMFC

TSX/NYSE/PSE: MFC SEHK:945

Quebec leads as first province in Canada to implement a pooled registered pension plan - called a Voluntary Retirement Savings Plan

WATERLOO, ON, July 16, 2014 /CNW/ - Manulife announced today that The Régie des rentes du Québec has approved its Voluntary Retirement Savings Plan (VRSP) product.  That means July 17, 2014 will mark the first time over a million Quebecers will have access to a workplace savings plan with a VRSP offered by Manulife.

"Our research shows that over 40 per cent of workers in Quebec are without a workplace savings plan and Manulife's VRSP can help fill the gap," said Robert Tellier, Regional Vice President. "With Manulife's VRSP and its innovative, online eApplication process, organizations can offer a workplace savings plan to their employees that is simple, affordable and easy to maintain. Most of the administrative work is with Manulife, not the employer."

A recent Manulife study found that a majority of Quebec's small business owners feel they have an obligation to help employees save for retirement.  A Manulife VRSP offers small businesses the chance to do this.

Manulife's VRSP will take the administration burden off the employer by:

  • Monitoring the eligibility of employees
  • Automatically enrolling employees as they become eligible
  • Sending an Employee Notification Package to each employee once they've been enrolled
  • Collecting employees' instructions if they choose not to participate in the plan
  • Collecting members' contribution rate instructions and communicating monthly to employers through the secure website

Flexible sales approach Manulife has developed two distinct sales models for its more than 2,200 group and life-licensed advisors in Quebec to choose from when selling the VRSP.

The introduction model allows an advisor to reach out to clients about the VRSP, and then forward the contact information of all interested clients to Manulife to complete the sale. The full-service model enables an advisor to manage the entire application process with their clients. Advisors can select the model that meets their own specific needs, with compensation either way.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,827.75 +12.81 0.07%
S&P 500 2,072.83 +5.80 0.28%
NASDAQ 4,787.3170 +29.0650 0.61%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs