Volontary retirement savings plan and death benefit
When a person who was a member under a voluntary retirement savings plan (VRSP) dies, the total amount credited to locked-in and not locked-in accounts will be paid in priority to the recognized spouse. However, if that person has renounced it or if there is no recognized spouse, the total amounts will be paid to the successors, for example, the designated beneficiaries or the heirs.
Death benefit
The
recognized spouse will receive a death benefit, that is, the total amounts credited to locked-in and not locked-in accounts of a member under the voluntary retirement savings plan (VRSP). If the spouse has renounced them or if there is no spouse, the amounts will be paid to the successors (for example, the designated beneficiary or the heirs).
The amounts are payable in a single payment. If allowed by tax rules, it could be worthwhile to transfer them directly into a registered retirement savings plan (RRSP) or a registered retirement income fund (RRIF). For more information, see the
Canada Revenue Agency's website 
or call 1 800 959‑7383.
Renunciation and revocation
- The spouse can renounce his or her right to receive the amounts payable when the member dies, provided the plan administrator has been informed in writing of the member's death. Renunciation can be done at any time, provided it is done
before the amounts are paid to the spouse.
- The spouse can revoke the renunciation, provided the plan administrator has been informed in writing of the renunciation
before the member's death.
Statement and person to contact
The plan administrator has 30 days from the date of receipt of the death notice to send a statement to the person who is entitled to the death benefit. The statement provides information concerning the death benefit.
For more information on death benefit payments, the person must contact the plan administrator. The statement indicates the contact information of a contact person. If not, the
list of the voluntary retirement savings plans (VRSPs) registered with Retraite Québec can provide the name and address of the pension plan administrator's.
Three sections to consult following the death of a family member
Other useful link
- The Death section on Québec.ca indicates the steps to take following a person's death.