Quebec - Regulations respecting variable payment life pension funds

On December 17, 2025, the Government of Quebec published two regulations to include provisions governing the establishment of variable payment life pension funds (VPLP funds). The regulations amend the Regulation respecting supplemental pension plans and the Regulation respecting voluntary retirement savings plans. Both came into force on January 1, 2026, and contain few changes compared to the draft regulations published on May 28, 2025. Aon welcomes this next step towards the implementation of VPLPs, which constitutes a new vehicle for distributing accumulated retirement savings, and we hope that other Canadian jurisdictions will follow Quebec’s lead.